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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: Hottest Prizm Basketball Card Auctions as Now Familiar Brand Cements... Sports Collectors Daily 2 Rutherford County-owned buildings on Murfreesboro square to go up for auction - Daily News Journal On the Auction Block with Randy Buntjer Pipestone County Star New Group Backs Online Livestock Auctions for Youth Amidst Pandemic Agweb Powered by Farm Journal Notes: '59 Cello Box Auction; $1 Million LeBron; 11,000 Sosa Rookie Cards; Brady's 1st Bucs... Sports Collectors Daily Schools earn $50K in auction | News, Sports, Jobs Warren Tribune Chronicle Kirkwood Ready for Resumption of Juvenile Auctions BloodHorse.com Santa Monica's Pacific Dining Car Auctions Assets as Restaurant Shuts Down Hollywood Reporter 4-H auction to happen virtually this year WTHITV.com SA Express Puts Up Bombardier CRJ200s For Auction Simple Flying Noble Auctions' latest spread is a feast for Porsche lovers Classic Driver Mecum's Indy auction cleared to go live July 10-18 The ClassicCars.com Journal An Original Boxed Copy Of Super Mario Bros. Is Up For Auction Bleeding Cool News Austin, Texas, Mansion With Three Elevators and an Art Gallery Heads to Auction With No Reserve Mansion Global Rare Moltres Pokémon Card From Tropical Mega Battle On Auction Bleeding Cool News BigIron says online auctions allowed business to continue, despite lockdown Sand Hills Express 2001: A Space Odyssey Space Suit with Iconic Helmet Lands on the Auction Block after Two Decades Times Square Chronicles Former Pittsburgh Pirates Owner to Auction 63-Acre Estate Mansion Global Household.HiBid.com: A Dedicated Site for Auctions Featuring Furniture, Housewares & Other Household Goods Yahoo Finance Pegged Right: Feeling the need for an auction Ashland Daily Press Art Auction or Game Show? Sotheby’s Tries Something New The New York Times Classic Early Ford Bronco Auction at Barrett-Jackson TruckTrend Network Auctions offer companies a reliable way to liquidate assets Smart Business Network Long Prairie Area Auction • Saturday, July 11th | Auctions ECM Publishers Disputed African Artifacts Sell at Auction The New York Times Former ‘The Crowne’ building up for auction The Owensboro Times Auction of Jay Leno's garage tour to benefit Collision Repair Education Foundation Repairer Driven News Online Silent Auctions Market Growth By Manufacturers, Type And Application, Forecast To 2026 3rd Watch News Dawson Tire and Wheel and Messersmith Auction Holding Online Auction to Benefit Fire Departments krvn.com Smiley: Don't horse around at the auction The Advocate More good signs for auto auction sales volume Auto Remarketing PtSA sets “Postcards From Home” auction fundraiser Peninsula Daily News Mint-Grade Tropical Mega Battle Zapdos Pokémon Card On Auction Bleeding Cool News Daly Hospital Foundation holding online auction Ravalli Republic Auto-auction firm proposes new use for site of Atco Dragway Burlington County Times Pie auction returns to Seneca KoamNewsNow.com Clovis cattle auction results | Livestock Markets | hpj.com High Plains Journal The Potomack Company Launches Phoenix Mill Auctions Alexandria Living Magazine Memorabilia, décor and more from Home of the Brave up for auction - Pacific Business News (Honolulu) Memorabilia, décor and more from Home of the Brave up for auction Pacific Business News (Honolulu) Iconic Kurt Cobain guitar becomes most expensive sold at auction Guinness World Records McAlester Union cattle auction results | Livestock Markets | hpj.com High Plains Journal Travel Advisors' Online Auction Supports Caribbean Educational Opportunities South Florida Caribbean News Jim Lee Drafts Flashpoint's Thomas Wayne Batman Into Comic Store Auctions CBR - Comic Book Resources Sotheby’s Art Auction Breaks Records National Review Mecum's Gone Farmin' auction hits 95 percent sell-through The ClassicCars.com Journal Foundation fights auction by so-called Hawaiian princess Hawaii Tribune-Herald (subscription) Manheim Auctions Reopening Select Locations to In-Lane Bidding http://cbtnews.com/ Holdingford Area Auction • Sunday, July 12th | Auctions ECM Publishers Copart: The King Of Auto Auctions Seeking Alpha Albany Area Auction • Sunday, July 12th | Auctions ECM Publishers Ara Güler’s photos in auction Hurriyet Daily News Cars.HiBid.com Is HiBid's Auction Portal for Exotic Cars, Late Model Trucks & Other Vehicles Yahoo Finance CHRISTIE’S FOLLOWS THE MONEY, AS IT AUCTIONS CONTROVERSIAL IGBO FIGURES THISDAY Newspapers Open Roads online auction is added to RM Sotheby's summer catalog The ClassicCars.com Journal Paramount Triggers UCC Auction on Kushner's Times Square Retail Condo Commercial Observer Youth Arts Foundation seeking artists for virtual art auction Paso Robles Daily News SA Express jets and other assets put up for auction Flightglobal Big 3-day car auction coming to Osceola Heritage Park in August WKMG News 6 & ClickOrlando Auction of Income Store's Lancaster office contents begins to recoup money for victims of $100M fraud LancasterOnline |
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