Foreclosure Auction
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Reverse auction - A reverse auction (sometimes called a procurement auction or tender) is a type of auction in which the role of the buyer and seller are reversed. In a more typical auction, the seller puts up an item for sale, multiple buyers bid for the item and depending on the nature of the auction (English or Dutch), and one or more of the highest bidders buy the goods at a price determined by the bidding.
Auction Sniping - Auction sniping is the term used to define the process of watching an online auction (such as on eBay), and placing a winning bid at the last possible moment (literally seconds before the end of the auction) giving the other bidders no time to outbid the sniper. Auction sniping is rarely done without software assistance.
Japanese auction - Japanese Auction is similar to English auction, the main difference being that each bidder has to bid at each level to remain in the auction. The auction continues until only one bidder remains.
Vickrey auction - A Vickrey auction is a type of sealed-bid auction, where bidders submit written bids without knowing the bid of the other people in the auction. The highest bidder wins, but the price paid is the second highest bid.
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