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Net Auctions and Auction Information |
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Auction and Its Benefits
An auction is basically a public sale wherein any object issold to the highest bidder. It can be defined as a process of purchasing and selling things by offering them up for bid, taking bids and selling the things out to the highest bidder. This is what is generally the case. However, a sale to the lowest bidder may also take place, in cases where land is sold for non-payment of taxes to anyone willing to take it for the shortest term; or where a contract is offered to an individual or party willing to take it for the shortest term; or where a contract is offered to an individual or party willing to perform it at the lowest price. Such cases too seem to fairly come under the purview of the term 'auction'. In case of auction the seller presents the products on a public platform. The selling price of the products are determined by the bids or offers of buyers interested in buying them based on their individual estimation of value of and need of the products. The person offering the highest bid at closing of auction receives the right to purchase the products at the bid price. The winner of the bid is normally legally bound to buy the item auctioned. In recent times auctions have been conducted online. The benefits of auction are many. Some of the significant advantages are: a) The auctioned item fetches the highest price in the given situation. Thus, in a way there is the maximization or optimization of profit. b) At an auction the goods are almost certainly disposed off after bidding by their sale to the highest bidder. Hence, this serves as the right podium for disposing or selling out of accumulated goods. Otherwise, business could have become stagnant due to the stocking of these goods. Certain items could also have perished (in case of perishable goods) or expired if not sold out in time. c) In case of auctioning a variety of articles may come up for sale, which may not be otherwise available in the market. The buyer can get quite surprised by looking at a treasure trove of antique articles available at an auction. d) An auction can also be considered as a method for estimating the value of certain commodities which have hitherto undetermined or variable prices. Author bio:
MORE RESOURCES: Holy Memorabilia! Original ‘Batman’ TV Costumes Fetch Nearly $1M at Auction - The Hollywood Reporter Holy Memorabilia! Original ‘Batman’ TV Costumes Fetch Nearly $1M at Auction The Hollywood Reporter Broomfield man loses nearly everything to auction after restoration company forgot to pay a bill 9News Aschoff Wobbenhorst Auction The Norfolk Daily News FCC circulates proposal for more C-Band auctions Mobile World Live Real Property Tax Auction Albany County, NY (.gov) Shopping for Something That Truly Stands Out? Try an Auction. The New York Times Auction Bids Against Polarization National Review Auction Subaru STI From Hell: Dealer Swaps In Blown “Built” Engine and Hopes Nobody Notices autoblog.com ‘Auction’ Review: The Art World’s Gilded Hustle The New York Times Boys & Girls Club hosts 17th legacy dinner and auction News Channel 6 | Wichita Falls, TX New Auction Record for Sikh Art Set in London—and a Rundown of the Latest in Asia’s Art World Artnet News Bonds Improve After Treasury Auctions Mortgage News Daily MBS Continue to Outperform as Auctions Weigh on Treasuries Mortgage News Daily VIDEO: How Are New Buyers Screened To Make Big-Ticket Purchases At Thoroughbred Auctions? Paulick Report Family business grows from auctioneering to coins and real estate Bucyrus Telegraph-Forum GM EV1 Sold At Auction This Week Will Be Restored GM Authority Happy Bidding! Online auction is now open from the Wellsville Auction House the wellsville sun The Rockefeller Family’s 18-Carat Sapphire Ring Could Fetch Up to $2.5 Million at Auction Robb Report Body found in Addison house by man who purchased property at auction FOX 4 News Dallas-Fort Worth Best Supporting Actor: This 1967 Corvette For Sale at Julien’s Celebrity Auctions Appeared in Two Movies CorvetteBlogger A solid gold toilet is up for auction with a $10 million starting price Laredo Morning Times The Hundred cricket competition to switch to IPL-style player auctions in 2026 - The Register-Herald The Hundred cricket competition to switch to IPL-style player auctions in 2026 The Register-Herald A Rare Offering: The Bülow Wine Collection at Auction — Over 1,800 Bottles of Exceptional Wine and Prestige Champagne Laotian Times bidadoo and SOARR Partner to Deliver Industry-First Auction Consulting and Seamless Inventory Solutions for Commercial Truck Dealers The AI Journal The Hundred cricket competition to switch to IPL-style player auctions in 2026 Bluefield Daily Telegraph Place Your Bid! Trumpy Yacht Up for Auction by the State of Maryland Chesapeake Bay Magazine Iowa State Fair auction goes live. How to buy Sky Gliders and other items. - The Des Moines Register Iowa State Fair auction goes live. How to buy Sky Gliders and other items. The Des Moines Register Two-Day Online Auction by Tiger Group Features Battery Manufacturing and Lab Equipment from Natron Energy Batteries News Kirk Hammett, Tommy Lee, and Adam Clayton Selling Loads of Gear for Charity Auction Consequence of Sound A solid gold toilet is up for auction with a $10 million starting price The Killeen Daily Herald Rockwells of the White House, Where They Long Resided, Head to Auction The New York Times Pink boat auction raises $25,500 for cancer care The Elkhart Truth Coppola Auctions Watches After Movie Fizzles newser.com The Hundred gears up for first-ever auction: Salary collar, squad size, retentions - All you need to know Times of India Mughal miniature sold for GBP 10,245,000 at Christie’s auction, sets record for classical Indian art Tribune India Sotheby's put a golden toilet up for auction with a starting price of $10 million Українські Національні Новини Alabama State Surplus Auction Begins Online Saturday Wiregrass Daily News Troy auction for former Ardex site fails to draw bids The Business Journals Gene Hackman's deeply personal art collection and awards head to auction, months after actor’s death Fox Business Bureau of Land Management auctions off leases for oil and gas development in Colorado Colorado Public Radio |
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