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Online Auction is the online business model. Participants participate through bidding for products and services over the internet. Online Auction sites have specific auction software that regulates the overall process of auction and make the buying and selling functional. swiss gear canopy 10x10 Internet auctions have become increasingly popular over the years for a number of reasons, from their broad geographical reach to their absence of time limits. If you are contemplating moving into this area of selling there are a wide variety of attractive benefits to consider, but also some negative aspects to take account of.