An online auction is a digital platform where items or lots are sold to the highest bidder over the internet. Instead of attending a physical auction, bidders can participate from anywhere using their computer or mobile device. The auction typically runs for a set period, and participants can place bids in real-time. When the auction ends, the highest bidder wins the item, subject to any reserve price or adjudication terms. Online auctions provide convenience and access to a wide range of items from different locations.
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