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→English Auction
===English Auction===
===English Auction===
An English auction is one of the most common auctions, particularly popularized by the auction website [[eBay]]. In this type of an auction, the seller offers an item up for bidding. The seller will describe the attributes of the item being auctioned before bids begin. The opening bid is almost always less than what the value of the item is (for example, many auctions on eBay start out at $0.99, despite being worth upwards of thousands of dollars). Buyers can then bid up incrementally on the item. Once there are no more bids to be placed, the item goes to the highest bidder.
An English auction is one of the most common auctions, the one where people think about an auctioneer and his rapid delivery. It is also popularized by the auction website [[eBay]].
In this type of an auction, the seller offers an item up for bidding. The seller will describe the attributes of the item being auctioned before bids begin. The opening bid is almost always less than what the value of the item is (for example, many auctions on eBay start out at $0.99, despite being worth upwards of thousands of dollars). Buyers can then bid up incrementally on the item. Once there are no more bids to be placed, the item goes to the highest bidder.
===Dutch Auction===
===Dutch Auction===