Standard or Proxy Bidding
The Standard Auction, like eBay, is the most popular type of auction and probably the type most users are accustomed to. This is where the auctioneer sets a starting bid amount and bidders drive up the price as they compete. The highest bidder at the close of the auction automatically wins.
Fixed Price Auctions
Fixed price auctions is an option where buyers can buy the item right away and bypassing the bidding process.
Sealed Bidding
Sealed Bidding auctions are like a Standard auction in that the highest bidder at auction close wins. However, the difference is that bidders and the auctioneer do not known bid rankings until after the sealed bidding auction has closed. At closing, the highest bidder is revealed.
