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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: Hammer time: how to bag a bargain at UK auctions The Guardian Mecum Auctions returns to Kansas City this week for 30th year WDAF FOX4 Kansas City Biden administration holds oil and gas lease auctions in Wyoming, angering environmentalists Washington Examiner US kicks off a spate of oil and gas auctions just as COP28 gets ... Hellenic Shipping News Worldwide Kiwanis Club of Panama City auctions off gifts for underprivileged kids WMBB - mypanhandle.com Auction Calendar 12-1-2023 AgUpdate Kylie Kelce Auctions Off Eagles Jacket, Bidding War Ensues Between Rob McElhenney And Kaitlin Olson TODAY Portage Manor auction by Kaser to sell kitchen jail cells other stuff South Bend Tribune Limited success for large-scale PV auctions in Austria pv magazine International Lock Haven Athletics online auction at GoLHU.com is back! - Lock ... Lock Haven University Athletics Heritage Auctions' Roberta Kramer Shares Her Current Favorite Finds CS | Modern Luxury Carbon auctions, gas prices: Figures aren't oil company profits ... The Daily Herald Online EV Auction Raises $10K for Nonprofit | Automotive News8000.com - WKBT Krank tech powers Latin America's largest 100% online mining ... International Mining Galatoire Foundation to Hold Annual Christmas Auction on Dec. 4 New Orleans Magazine Auctions in New York Reflect a Dip in the Market The New York Times Commission launches first European Hydrogen Bank auction with ... European Commission Have Art Auctions Become ‘Must-See TV’? The New York Times Big Iron Auctions-A Pioneer In Serving Rural America With Online ... - AGInfo Ag Information Network Big Iron Auctions-A Pioneer In Serving Rural America With Online ... AGInfo Ag Information Network Stocking Stuffer Auctions Heart of the Rockies Radio "The auction model is one that truly works in Almeria" hortidaily.com Dealers Auto Auction of Little Rock names new general manager Auto Remarketing Did That $4 Wyeth Thrift Store Painting Really Sell for $191,000? The New York Times TREASURIES-US yields lower after housing data, auctions Yahoo Finance Trust land auctions fund mental health care in Alaska Alaska Public Media News Building Better Infrastructure Auctions | Stanford Graduate School of ... Stanford Graduate School of Business Carbon falling below EUR80 after larger auctions and lower gas prices International Cement Review Bacone to go up for auction next month to pay off over $1.5 million in ... 2 News Oklahoma KJRH Tulsa Sulphur Springs Livestock Auctions market report North Texas e-News Blake Corum selling custom cleats at charity auction FOX 2 Detroit Annual Auction for the Arts returns to Big Sky in February Explore Big Sky Brad Pitt and Angelina Jolie Lived in This New Orleans Mansion. Now It’s Up for Auction. Robb Report Online Auction of Unclaimed Property ending soon newschannel20.com BOEM Schedules Oil Lease Auctions in Rice's Whale Habitat The Maritime Executive Wild horse, burro auction in Florence | Daily Independent Daily Independent Fall auctions woo rich bargain hunters with $2.5 billion in art Crain's New York Business Open Source Gallery's Art Auction Is Open for Bidding Hyperallergic Children's Auction bidding off hundreds of items to raise funds for Lakes Region nonprofits WMUR Manchester ARC Starlight Auction raises nearly $300,000 | News, Sports, Jobs Cape Coral Breeze Silent auction to benefit City of Christmas | Daily Gate City - Keokuk ... Mississippi Valley Publishing SCC's Carolina Auction Academy graduates 22 students - The ... Stanly News & Press $140 Million Picasso Props Up New York Auctions | News Ocula Magazine Tyler Perry's former Atlanta mansion sold at auction FOX 5 Atlanta Car of the Week: This Ultra-Rare 1967 Corvette Sting Ray Could Fetch More Than $3 Million at Auction Robb Report Livestock Auction Calendar 12-1-23 AgUpdate Lynch will oversee property auctions Millbury-Sutton Chronicle |
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