Auction type pricing

One of the types of pricing methods, which is growing in popularity in recent years especially with the growth of Internet. A large number of electronic market places are selling a diverse range of products and services by auctioning them though bidding process. One major use of auction is to dispose excess inventories or used books. There are three major types and each has its own separate pricing procedures. These types are: ascending bids, (English auctions) descending bids (Dutch auctions), and sealed bid auctions.