Virtual Auction A Virtual Auction or an online auction is like a flea market being organized over the internet. Sellers choose to sell single or multiple products while the data collection happens behind the scenes. It involves winning and losing after making substantial bids. However, there are different types of online auctions that one can go ahead with. Let’s discuss this in detail. There are two types of an online auction 1. Virtual Live Auction 2. Virtual Silent Auction Virtual Live Auction: Virtual Live Auction is a live-streamed event with auctioneers, buyers, and sellers participating online, from their respective places. People can view the item details, join the live chat to discuss things with fellow supporters/participants, make bids, offer donations, and buy things, all through the single screen they operate with the help of the software. Virtual Silent Auction: An online silent auction takes place over a longer period, say, a week. This type of online auction giv