Common use of Auction Services Clause in Contracts

Auction Services. A format whereby (i) used cars or services (or groups thereof) ("Items") are sold or traded online, person to person, through (x) the bidding on such Items by one or more prospective buyers, or (y) the clearing of a price offered by one or more prospective sellers, and (ii) the price of such Items is determined by the price paid by the highest bidder or the lowest price offered by the seller; provided, however, that Classified Advertising shall not be deemed Auction Services.