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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: Marine Auctions: April 2025 Online Auctions Sail-World.com Gold nugget donated to Salvation Army red kettle outside southern Indiana Kroger up for auction WHAS11 Michael Schumacher’s Monaco Grand Prix and double title-winning Ferrari F2001 to be sold at auction Formula 1 Bank to Auction Historic Little Rock Home on Thursday Arkansas Business A Robert Frank photo he saw as ‘threatening’ and a ghostly Dalí painting: our pick of the April auctions The Art Newspaper Tyeb Mehta’s ‘Trussed Bull’ sold for 61.8 crore, becomes second most expensive work of Indian art sold at an auction The Indian Express Historic Negro Leagues Memorabilia Among Headliners in Hunt Auctions Spring Sale Sports Collectors Daily Going once ... going twice: Florida Action Network's live auction set for April 5 Panama City News Herald 'I want to be remembered.' Death row inmate puts San Quentin journals, art up for sale at $80,000 Los Angeles Times Christie’s and Sotheby’s Hong Kong auctions underwhelm as sales hit 6-year low South China Morning Post Rare Haggadahs up for auction in Bnei Brak www.israelhayom.com 1997 Tiger Woods Signed Masters Badge Heads To Auction Sports Illustrated LiveAg Livestock Auction RFD-TV Greece auctions €600 million in 13-week treasury bills eKathimerini.com U.S. government auctions 91 acres of land near Atterbury Job Corps dailyjournal.net Online auction live for LSCP Annual Dinner Upper Michigan's Source Board rejects $2M bid for former YWCA facility from auction winner facing indictments Dayton Daily News Poaching remains a major problem in Utah. An auction of seized trophy bucks offers a ‘silver lining.’ The Salt Lake Tribune The Traveller Collection Set for Record-Breaking Auction Numismatic News 77 Acre Whites Creek FARM To Hit The Auction Block Smokey Barn News Dessert auction Thermopolis Independent Record U.S. government auctions 91 acres of land near Atterbury Job Corps The Republic News Spaghetti supper, auction assist students metropolisplanet.com EDPR auctions 90 Vestas wind turbines and auxiliary materials in Colombia Windtech International The Body Model Used During a Famous Scene in ‘E.T.’ Is Heading to Auction Smithsonian Magazine Hong Kong Art Week Wraps up with Ho-Hum Auction Results and a Few More Big Sales at Art Basel ARTnews.com Important Collections, Rarities Cross the Block in Stack’s Bowers Spring 2025 Showcase Auctions CoinWeek Hope Haven’s Annual Benefit Auction Storm Lake Radio Texas Rangers TEX Gala 2025 to Feature Thomas Rhett and More Fort Worth Magazine Britney Spears’ Iconic Outfit Auctioned in New Julien’s Auction Glitter Magazine Foundation Academy auction begins Thursday West Orange Times Observer Timex Group auctions off private art collection at Middlebury HQ Hartford Business Journal NFL star Mark Barron to auction off California mansion SiliconValley.com Buckfield Mall goes up for live auction May 2 Lewiston Sun Journal Auctions April 2 to 8: contemporary art, antiques and wines Finestre sull'Arte News Flash • Shop County Auctions on PublicSurplus.com Nevada County (.gov) Gold nugget worth thousands donated to Salvation Army to be listed for auction - The Courier-Journal Gold nugget worth thousands donated to Salvation Army to be listed for auction The Courier-Journal Nearly 3,000 Acres of Iowa Farmland to Sell at Auction in April Successful Farming Big Island property, location of reality TV show Temptation Island, headed for auction Big Island Now Ford CEO Jim Farley Uses Auctions To Call Out Greedy Dealers Ford Authority A Diverse Array In World Auction Gallery’s Exceptional Auction Antiques And The Arts Weekly MLC auction kicks off Friday evening windomnews.com Rison FFA Auction, Burgers April 24 Cleveland County Herald Viper-Powered 1970 Plymouth Barracuda Heads to Mecum MoparInsiders Comedy show, art auction to benefit We Care Wilcox Newspapers AUCTION: 2023 Dodge Challenger SRT Demon 170 Jailbreak MoparInsiders Rinaldi Advisory Services Adds Castagna of InPlace Auction as a Strategic Alliance Partner Monitordaily Honda to auction Senna V10 F1 engine parts PistonHeads “Welcome to Wyoming” signs are up for auction Wyoming Public Media Chewbacca’s Bowcaster From ‘Star Wars’ Sells for $768,000, ‘Ghostbusters’ Ghost Trap Fetches $327K Variety Lamar Point VFD Hosting BBQ, Auctions EastTexasRadio.com Uptown office tower garners $36M bid at public auction The Business Journals Rodeo Houston's livestock auctions raise money for Texas youth marketplace.org Medieval Great Helm Leads Highlights at Apollo Auctions This Weekend Medievalists.net |
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