So what's an internet based Auction
Web-based auctions, commonly known as virtual auctions, are performed on the internet. This is a service through which a owner markets products and solutions on the web during which customers may bid anytime and virtually anywhere. Internet based auctions like eBay and MadBid procedures are similar to conventional auctions; it involves a vendor advertising a service or product where different customers bid beginning with a predetermined minimum amount. Bidding begins whenever a person logs this particular dollar amount.