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Online auction business model refers to the public sale in which contributors bid for the products and services through the internet. EBay is the world’s largest online auction site which does not sell goods but helps in the process of listing and displaying goods, bidding on items, and paying for them. Online auction performs as a marketplace for individuals and businesses that use this site for goods and services.

Online auction are of two types such as:

1. English auction in which original price is low and is increased by succeeding bidders.
2. Dutch auction in which identical items are displayed in one auction with all bidding winners paying the same price that is the highest price at which all items will be sold.

Advantages of online auction:

1. Bids can be done at any time as products are displayed for no. of days giving purchasers time to search, decide, and bid.
2. It increases no. of bidders
3. Online auction helps the sellers and bidders to take part from anywhere who can access internet and helps in cutting the cost of "attending" an auction
4. There are large no. of bidders because of fairly low price, scope of products and services provided
5. The large number of bidders encourages more sellers, which in turn, will encourage more bidders, which will encourage more sellers, and so on.
   

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