An online auction system and method comprising a single access fee for participation and allowing participants to place bids free of charge. The system comprises an auction management assembly in communication with a network, an auction event structured to present information pertaining to an auction item, access fee defining entry to the auction event, and at least one bid independent of an associated fee. In some embodiments, the system comprises an entry requirement and entry fee. In some embodiments, the system comprises an auction room having a plurality of auction events, and a single entry fee for access to auction room and its contents. The method comprises receiving, storing, and presenting auction item information, establishing an access fee, receiving indication of payment of the access fee, commencing an auction event, allowing participants to access the auction and place multiple bids free of charge, and facilitating completion of the auction event.