A woman stands in front of a rail of clothes, picks an item at random, and sets the auction start price. “Ready? Go! Last chance to order, girls, bid this up!” she encourages, as live-stream shoppers on Whatnot quickly swipe a button at the bottom of their phone screens to increase the bid in one-dollar increments. The auction lasts for 10 seconds, the winner is announced on-screen, and the item —…

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