what is auction describe how auction can do over internet
Answers
Answer:
i answered your question
,
Explanation:
internet auctions are like giant online flea markets. sellers may offer one time at time or multiple lots of same item ...just like loc auctions, there are sellers and bidders...and winners and losers. winners are expected to pay for what they bid on at the conclusion of the auction.
I hope it will help you
Explanation:
Auction
An auction is a sale event where in potential buyers place competitive bids on assets or service either in an open or closed format . Auction are popular because buyers and sellers believe they will get a good deal buying or selling assets
Auction Work
In an open format all bidder are aware of the bids submitted in a closed format , bidder are not aware of other bids . Auction can be live , or they can be conducted on an online platform
The asset or service in Question is sold to the party that places the highest bid in an open auction and usually to the highest bidder in a closed auction
For Example
In an open auction , Particles come together a physical Venue or online exchange to bid on assets