English Auction
An English Auction is a type of auction where bidders openly bid against one another. The auctioneer starts with a minimum price, and participants raise their bids until no one is willing to bid higher. The item is sold to the highest bidder at the end of the bidding process.
This format is commonly used for selling items like art, antiques, and real estate. It encourages competition among bidders, often driving the final price higher. The process is straightforward, making it a popular choice for both sellers and buyers in various markets, including eBay and traditional auction houses.