DIFFERENT KINDS OF ONLINE AUCTIONS

Since a few years the concept of an online auction has gained tremendous amount of popularity all over the world. Millions of people from all over the world find it as the best means of purchasing products while sitting within the comforts Iphone 4s Screen Protector of homes. Yes, the concept of a live auction held online, has actually made online shopping all the more interesting and fun-filled for the all the people who love to have some fun while they shop from their homes.The extensive popularity of an online auction is mainly because of its exclusive features. The different kinds of auctions held online, have provided a good choice to the people who love shopping online. An auction which is held online can mainly be categorized into person-to-person auction, commercial auction and the real-time webcasts.A person-to-person live auction is an auction in which the dealing takes place between two individuals over the internet. Both the buyer as well as light bulbs the seller interact with each other and decide about the rates of the particular products. The second kind of auction conducted online, is the commercial auction. A commercial auction features the companies which wish to sell their products by displaying them in an auction. A lot of companies conduct these commercial auctions in order to get rid themselves of the surplus products, reconditioned equipments and discontinued items. Some other companies use these commercial auctions as efficient tools for selling their retail items. The third kind of auction conducted online is the real-time webcast. This is a live auction in which the participants are free to bid either from the auction premises or from the web. The most important condition for participating at a real-time webcast is that you need to be pre-registered at the website in order to place your bids. The best example of person-to-person auction held over the internet is eBay. Apart from these kinds available for an online auction there are some other kinds also which are equally prominent and are conducted by most of the reputed websites available over the internet. These auctions include the following:-1.Chinese Auction: This is an auction which is basically held at charity or fund- raising. Under this auction the bidders buy the tickets and the chance of winning the bids is proportional to the number of tickets purchased.2.Dutch Auction: This is an auction in which the auctioneer declares a high price for the product or service, which is then lowered depending on whether the participants are willing to pay the pre-determined amount or not.3.Sealed-bid first price auction: This is the auction in which all the bidders submit their bidding amounts and no one knows about the bidding amount placed by his/her competitor. Finally, the bidder who bids the highest amount is declared the winner.4.Sealed-bid second price auction: This is the auction similar to the sealed-bid first price with an only difference that the highest bidder pays the second highest amount and not the highest amount.5.All-Pay Auction: This is the auction in which all the bidders pay their bidding amount without being considerate about their winning or losing at the auction.6.English Auction: This is an auction in which a price is reserved for the products and the purchasers offer larger and larger bids. The bidder who wins is being sold the product(s).I hope by now you would have definitely understood a lot about the different kinds available for an online auction that is loved by one and all. So, what are you waiting for, go ahead and participate in a live auction that can help you purchase your favourite stuff.