A Brazilian auction is a type of auction that is characterized by its unique structure and bidding process. In this auction format, participants bid on an item by making simultaneous bids, usually through an online platform. Here are key features of a Brazilian auction: 1. **Bidding Procedure**: Unlike traditional auctions where bids are made sequentially and the highest bid at the end wins, in a Brazilian auction, bidders can place bids at any time during the auction period.
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