When participating in bid online auctions, there are different types of auctions to choose from. The two most popular types are online silent auctions and online live auctions. So, what is the difference between the two?
Best online auctions have been around for many years and throughout those years they have evolved quite a bit. In a silent auction, like those similar to eBay, bidders primarily bid against other bidders for the items they want. There is usually a set time frame from open to close from which people can place their bids.
Image Source: Google
You register for the auctions through the individual website and payment and shipping can either be arranged through the website or through the seller of the items. This can depend on which auction website you are visiting.
Live auctions online work a bit differently. Like silent auctions, they have bidders that register, but the dynamics of registration, along with how the auction is conducted are not the same. When you are registering for this type of auction, most of the time you will find yourself signing up twice the first time around.
The first registration is usually for the website hosting the auction. Once you have been approved through the website you are able to sign up for individual auctions on the site that are hosted by different auctioneers.