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3. Bidding > 3.1. Hacks 25–41

Hacks 25–41

The term auction evokes a vivid image in most people’s minds: a fast-talking auctioneer at a podium, dozens of seated participants, and an assistant parading numbered collectibles across the stage, one by one, as the participants place their bids. The auctioneer quotes an opening price, and participants signal their interest by raising their hands, at which point the bid price is raised by some arbitrary amount. Bidding for each item continues until the current bid price exceeds the amount that all but one of the participants is willing to pay.

eBay’s bidding system works a little differently. For one, auctions are timed, and close at a predetermined date and time, regardless of the bid price or whether or not everyone has finished bidding.


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