What is an Internet auction?

An internet auction is the sale of merchandise over a period of time where people bid against each other to buy products or services. The winning bid at the end of the sale period wins the item. All types of products are sold in auctions, including toys, collectibles, medical supplies, art, electronics, furniture, jewelry, books, etc.

The seller decides the starting price, uploads pictures, and develops a description of the item so that the auction will be presented properly to generate interest. Both the seller and the buyer will pay fees to the online site to participate in the auction.