Online auctions can be fun and lucrative
first things users realized was its business potential. If you
can do business in a store or through a catalog, why not through
a Web site? And soon online auctions were born.



Online auctions work essentially the same way as regular
auctions. A seller places an item up for bids, and interested
parties take turns naming the price they'd pay for it, until
finally the highest bidder wins and must purchase the item for
the last price he named. On the Internet, a time limit is
usually imposed; for example, the highest bid received after
three days is the winner.



EBay, founded in 1995, soon became the world's largest site for
auctions. Mo...
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