Many renowned online auction houses like Ebay use the English auction. The different customers offer higher and higher amount against each other, with each bid being higher than the previous one. The auction completes when the bid reaches its maximum value and no participant is willing to offer a higher amount. In some cases, when the reserve price is not revealed, the bid ends if no one is willing to bid an amount higher than the reserve price. The item, in this case, remains unsold. The most traditional type of English auction includes the use of a candle. In this type, the winning bid was the last one which was offered just before a candle died out.
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