Penny auction

Penny auction may refer to several types of auction:

Bidding fee auction, in which participants must pay a fee to the seller in order to place each bid;
Penny auction (foreclosure), in which participants collectively discourage competitive bidding in order to force the sale a foreclosed property at a low price.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.