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Online auction query

Hi. Can you please confirm if the term 'online auction' refers to traditional auction or modern method of auction?

Asked on Feb 6 2019, General in Wolverhampton | Report content

Answers (1)

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  • Hello Daniel, It's slightly open to interpretation as many traditional auctioneers allow people to bid online. There are more auctioneers that do only operate online, and I think this is likely to grow. Modern method of auction is a slightly different process where the buyer pays a reservation fee rather than the full deposit. Thanks, Ruban

    Answered on Feb 7 2019, Report content

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