Month: October 2023

Posted on: October 23, 2023 Posted by: admin Comments: 0

What is a penny auction

A penny auction is a unique form of online auction where participants place incremental bids on an item, and each bid increases the auction price by a small amount, often just one cent. These auctions are also known as “pay-per-bid” auctions or “bidding fee” auctions. Unlike traditional auctions where the price increases by a set amount with each bid, penny auctions increase the price only slightly, typically one cent. Here’s…

Posted on: October 1, 2023 Posted by: admin Comments: 0

What is Popcorn bidding or Dynamic bidding in auction

“Popcorn bidding” or “dynamic bidding” typically refers to a feature in online auctions where the bidding time is extended if new bids are placed close to the auction’s closing time. This is done to ensure that all participants have a fair chance to bid and to simulate the excitement of a live auction. Here’s how popcorn or dynamic bidding generally works: It’s important to note that the specific implementation of…