An icon will appear when an auction is UPCOMING and when there is an AUCTION IN PROGRESS. The auction items will open for bidding at a set starting time and bid amount. The high bid amount at the established ending time will be awarded the equipment.
Let multiple buyers bid competitively for products from individual suppliers. Suitable for hard-to-move goods such as used capital equipment (forklifts) and surplus or excess inventory. Prices only move up, but buyers can buy below list prices while sellers sell for more than a liquidator pays. Auctions are becoming a feature of many Net markets, but some use auctions as their primary market mechanism. Examples: AdAuction, TradeOut.com (used equipment).