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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: Yacht once owned by late Palm Beach resident Jimmy Buffett heads to auction The Palm Beach Post Cox Automotive Signs Intent to Acquire Bel Air and Tallahassee Auto Auctions from BSC America Cox Automotive Inc. Stormtrooper Helmet From ‘Star Wars: A New Hope’ Sells for $256K at Auction - The Hollywood Reporter Stormtrooper Helmet From ‘Star Wars: A New Hope’ Sells for $256K at Auction The Hollywood Reporter Treasury says it won’t have to increase coupon auction sizes for ‘next several quarters’ MarketWatch Decatur's iconic planters find new homes at auction decaturish.com Friday Harbor mansion once listed for $11M heads to auction at $5M KIRO 7 News Seattle Bend luxury estate sold at auction bendbulletin.com AUCTIONS Coming Soon! West Bend News Online Auction – bid until August 7 Ankeny Community School District Japan Designates Hokkaido Sites for Offshore Wind Auctions Offshore Engineer Magazine Cox Automotive Signs Intent to Acquire Bel Air and Tallahassee Auto Auctions from BSC America PR Newswire 2025 Fantasy Football Auction Draft Strategy Guide: Fade Josh Allen And Lamar Jackson Sports Illustrated Arkansas Commissioner of State Lands to auction more than 700 tax delinquent real estate parcels Thursday Hot Springs Sentinel Record ACME Wins India's First Green Ammonia Auction at Record-Low Rate Fuel Cells Works What to know about the upcoming auction for Dayton Nurseries in Norton Akron Beacon Journal A note of thanks to bidders at Jr. Livestock Auction | By Adam Dornacker - Washington County Insider A note of thanks to bidders at Jr. Livestock Auction | By Adam Dornacker Washington County Insider Ohio electric bills likely to keep going up after latest PJM auction Ohio Capital Journal London Auction House to Offer Artifact from ‘the Age of Tutankhamun’, Despite Dubious Origins ARTnews.com COSL announces regional tax auction: Craighead, Mississippi, Poinsett counties - Jonesboro Right Now COSL announces regional tax auction: Craighead, Mississippi, Poinsett counties Jonesboro Right Now The 25 Most Expensive Cars Headed To RM Sotheby’s 2025 Monterey Auction duPont REGISTRY News Stray sheep auction draws a crowd The Sanford Herald Foreclosure Auction Announced for 70-Unit Luxury Apartment Complex in West Roxbury Boston Real Estate Times NJEDA Webinar for Companies Interested in Tax Credit Auctions, July 31 New Jersey Business & Industry Association Roundup: Rep. Cleo Fields / Art auctions / Summer heat wave Baton Rouge Business Report Auctions Pharrell Williams' JOOPITER Hosts Its First Dedicated Watch Auction — The Art Of Time Hodinkee REA Auction Includes High-Grade Vintage Rookies Sports Collectors Daily Britney Spears' iconic Mercedes is going up for auction Contactmusic.com News Flash • City of Beaumont Surplus Auction Summer 2025 City of Beaumont (TX) (.gov) Auction ad calendar for the week of June 28, 2025 Wisconsin Farmer PJM Auction Procures 134,311 MW of Generation Resources; Supply Responds to Price Signal PJM Inside Lines Auctions: From the Bidder’s Perspective | Publications | Insights Faegre Drinker Biddle & Reath LLP India's green hydrogen-based ammonia auction announces first winner — with an extremely low price Hydrogen Insight Auctim to Offer 7.3M+ Carats of Rough Emeralds nationaljeweler.com Ayrton Senna's Personal 1987 Porsche 911 Cabriolet Is Up for Auction With His Signature Still Inside HiConsumption Was This Artifact From King Tut’s Tomb? It’s for Sale Anyway. The New York Times Council to sell historical house at auction Yahoo Home Alex Jones plans to auction 16 watches, an SUV and a Texas house to pay Sandy Hook families NewsTimes This Legendary Napa Winery Will Auction Off All 40 Vintages of Its Estate Cabernet Sauvignon Robb Report The Larry King Collection for Auction Arts & Collections Capacity auction predicts higher energy bills; Youngkin, governors air frustrations in letter to PJM Virginia Mercury Inside the Scottish auction of rare treasures, from a Culloden cannonball to a £12,000 frock The Scotsman Auctions, fried chicken and stories from the past: Drumm family celebrates 100 years in Muncie The Star Press iDealwine named 'leading' French auction house for wine and spirits after €39.1 million worth of sales The Drinks Business Energy bills likely to tick up again in 2026 after electricity auction clears at maximum price Maryland Matters Capturing Liquidity with Cboe's Periodic Auctions Cboe Global Markets Zimbabwe cheers as SA auctions assets of VP Chiwenga’s ex-wife The EastAfrican VIDEO | $496,224.75 total sale at 55th annual Jr. Livestock Auction Washington County Insider Green Ammonia Records Historic Low in Latest Auction | Chemical Industry Digest Vikram Goyal Curates a Global Textile Tribute to Wildlife and Craft Galerie Magazine Daymak's Final Ride - Assets of Canada's EV Pioneer Up For Auction The Globe and Mail Surplus-land auctions, in August and September, help DNR meet mission to boost public recreation, protect natural resources thealpenanews.com Peugeot 106 Rallye | PH Auction Block PistonHeads |
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