An online auction is an auction which is held over the internet. Online auctions come in many different formats, but most popularly they are ascending English auctions, descending Dutch auctions, firstprice sealed-bid or sometimes even a combination of multiple auctions, taking elements of one and forging them with another. The scope and reach of these auctions have been propelled by the Internet to a level beyond what the initial purveyors had anticipated.

This is mainly because online auctions break down and remove the physical limitations of traditional auctions such as presence, time, space, and a small target audience. Now a day’s online bidding portal has gain much popularity. It is real time platform for buyers and seller where then can buy and sell anything as per their industry.