What does the term "online auction bidding" refer to?

Prepare for the Auctioneer Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

Online auction bidding refers to the process of placing bids on items through an internet platform, which allows individuals to participate from virtually any location. This method provides a flexible and accessible way for potential buyers to engage in bidding without the need to be physically present at an auction site. Participants can submit their bids in real-time or through proxy bidding systems, enabling them to compete for items even when they are far away from the auction venue.

This modern auction format has grown in popularity due to advancements in technology and the convenience it offers. Unlike traditional bidding methods that require physical presence or specific bidding hours, online auctions break down those barriers, creating a broader marketplace for both sellers and buyers.

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