Who are the participants in an auction and how to join?
Bidding may be open to all people interested but at times this can be limited only to certain group of individuals hence, the bidding can be called underground. There are certain conditions that a certain individual has to meet in order to participate for a certain auction house or site. In cases where the bidding is done in an auction house, an age requirement is one thing that might be needed to enter. Also some penny auction houses allow cash, checks and other forms of monetary payments. In cases where the auction is done on the internet, all the individual has to possess is the money that is in accordance to the sites mode of payment.
The participants in the penny auction strategy may vary depending on the items to bid, although, generally, an auction is open to public.
In cases where the auctioned items are paintings, sculptures or other art-related items, participants may include people who are interested in art stuffs mostly. They are usually the collector type of people.
In cases where the items are placed on the internet, participants are those people who are capable of paying for the item whose payment method is applicable to the website’s mode of payments.