Auctions and bid have a long history, having been recorded as early as 500 B.C. However, it is only in the last 3 centuries that they have become a well-established mechanism for selling and acquiring goods and services. The Internet is the medium that has allowed auctions and bid to come to every. The rise in popularity of market place sites such as ebay, Alibaba, and Mercado Libre has meant that bidding for goods and services around the world is nearly as natural as buying a Newspaper. It is essential that online auction bidders and sellers have absolute confidence in the auction business and its process. The new .BID generic Top Level Domain (TLD) provides an anchor online auctioneering is more convenient than ever before, and many of the issues facing buyers and sellers are resolved. With over 112 million users and $2,000 being traded every second on eBay alone, having a dedicated, trusted virtual space for auction platforms and marketplace sites.
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