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An Electronic Auction (e-auction) is a procurement auction performed electronically. The most common type of e-auction is a ?reverse auction).

An online auction (also electronic auction, e-auction, virtual auction, or eAuction) is an auction held over the internet and accessed by internet connected devices. Similar to in-person auctions, online auctions come in a variety of types, with different bidding and selling rules.

Online auctions refer to the process of buying and selling goods or services through the Internet using an auction-style format. Instead of traditional in-person auctions, online auctions take place on dedicated websites or platforms that facilitate the bidding process electronically.

In a traditional auction, several properties are sold in turn on a set day. There is usually a starting or guide price and a reserve price, which must be met for the home to sell. All bids taken are legally binding.

The most popular type of e-auction is the online auction, which is conducted over the Internet. Other types of e-auctions include reverse auctions, sealed-bid auctions, and Dutch auctions. Reverse auctions are used when a buyer wants to purchase a good or service from multiple sellers.

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