An online auction is a digital platform where individuals or businesses can buy and sell items through bidding. Participants place bids on items they are interested in, and the highest bidder at the end of the auction wins the item. These auctions can feature a wide range of products, from antiques to electronics, and are accessible from anywhere with an internet connection. Popular online auction websites, such as eBay and AuctionZip, facilitate these transactions by providing a secure environment for buyers and sellers. Users can set starting prices, reserve prices, and auction durations, making it easy to manage the selling process.