What is a benefit of online auctions compared to traditional auctions?

The benefit of online auctions compared to traditional auctions is the ability to reach a wider audience. Online platforms allow participants from various geographic locations to bid on items without the constraints of physical presence. This global access enables sellers to tap into a larger pool of potential buyers, increasing the likelihood of competitive bidding and potentially higher sale prices. The ease of participating from anywhere with internet access encourages more bidders to engage, thus broadening the market and enhancing the auction's overall effectiveness.

In contrast, traditional auctions are typically limited to local attendees, which restricts the audience and can limit the seller's opportunities for sales. This characteristic of online auctions is significant in enhancing both the buyer's and seller's experience.