There are three types of auctions a traditional auction, an online auction, and a webcast auction. A traditional auction is conducted on-site at the auctioneers location or on-site at the place of the goods’ origin. An online auction is only conducted through the internet and only registered bidders can bid. A webcast auction is a combination of an online auction and a traditional auction; bidders have the option of bidding remotely or bidding in person.
