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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: Want A Batmobile Or Michael Jordan's Bentley? Visit This NW Side Auto Auction This Weekend Block Club Chicago Sotheby’s secures $120m Pritzker and Lauder collections, with works by Matisse, Munch and Van Gogh The Art Newspaper One Shoreline Plaza scheduled for foreclosure auction KRIS 6 News Corpus Christi See's Auction Hampshire Review State auctions off four Central Mass. properties to housing developers for $2M Worcester Business Journal Boater's paradise: Intracoastal Waterway home taking bids in Sept. 20 auction The Florida Times-Union Zoute auctions 2025: Lots to tempt as Bonhams and Broad Arrow go head to head magnetomagazine.com $13.5 million Conan painting sets Frank Frazetta auction record Just Collecting Van Gogh's 'Romans Parisiens (Les Livres jaunes)' to Auction with $40m Estimate finebooksmagazine.com Sotheby’s Down Bad With Auction Giant Posting Big Losses hypebeast.com China’s first provincial solar auction sparks concerns over future of alternative energy Mugglehead Magazine Online auctions key to wholesalers’ future Cox Automotive Inc. This week, Equestrian Auctions is gathering top lines during its Live & Online auction! Equnews International Mythical Set of Patek Philippe Pocket Watches Expected to Sell for $10M+ nationaljeweler.com Box Art Auction Marks 25th Year Dan’s Papers Bryant 24 debut jersey at $600,000 in sports auction pre-game Just Collecting Murphy Auction's Leadership Balances Tradition, Innovation Construction Equipment Guide Ghostbusters Sneakers from Director Jason Reitman’s Personal Collection Go Up For Auction Ghostbusters News Outrage over Nazi and KKK items at auction localnewslive.com Bureau of Land Management auctions off leases for oil and gas development in Colorado Colorado Public Radio Meet the Pregunta, the 1998 Lamborghini Supercar Concept That’s Poised to Snag Over $4 Million at Auction Robb Report Bonhams Los Angeles to auction rare Nirvana concert footage The Music Universe Lubbock Police Department to host abandoned vehicle auction on Sept. 20 EverythingLubbock.com Compass Community Credit Union Supports Local Youth at the Jr. Livestock Auction Redheaded Blackbelt Bowmanstown church closing; auction Oct. 5 Times News Online DBS CEO Dinner Auction in Singapore Fetches $15,000 Bid Bloomberg.com Cindy and Jay Pritzker's art collection valued at $120 million going to auction at Sotheby's Crain's Chicago Business ThreeSixty Asset Advisors Announces Three-Day Auction of CRC Costume Rental Corporation in North Hollywood PR Newswire Julien’s Auctions teams with Grand Ole Opry for London fan experience The Music Universe Trumbull County raffle-auction kicks off Breast Cancer Awareness Month, helps mom battle breast cancer Weekly Villager Treasury Bond Auction Announcement - RIKB 42 0217 GlobeNewswire Daredevil's New Costume, 1st Cover, Silver Streak Comics 7 at Auction Bleeding Cool News AUCTION RESOLUTION 3126 Idaho Press Blue Beetle's Costume Takes Shape, Mystery Men Comics #4 at Auction Bleeding Cool News ‘The wine that freed 10,000 POWs’: Wegeler to auction bottle of the historic Bernkasteler Doctor 1953 The Drinks Business Rare Early Gold and Type Coins Among Top Attractions at Heritage's GACC U.S. Coins Auction Oct. 2-5 Greysheet Grand Marshals, Ted Peterson honored at OCI Auction Clearwater Tribune Denmark Arts FallFest Dinner & Auction Sept. 27 The Conway Daily Sun Public agencies to auction surplus vehicles, equipment Cottage Grove Sentinel Brazil to Auction Cruise Terminals to Spur Growth Cruise Industry News Nazi and KKK relic auction raises questions about SD seller Dakota News Now Fenway Tower Site Trades for $28M at Auction Banker & Tradesman Exotic livestock auction returns to Monroe Livestock Auction Barn The Berne Witness Totaling $1 Million At Kaminski Auctions — Susie Hilfiger’s Nantucket Collection Embodies Forever Style Antiques And The Arts Weekly Tradition Remains Strong In Smith’s Post-Labor Day Auction Antiques And The Arts Weekly The Marvel DNA of Amazing-Man Comics #6, Up for Auction Bleeding Cool News Nonprofit Gets Two Paintings Stolen by Nazis Pulled From Auction The New York Times These Long-Lost 17th-Century Paintings Were Looted by the Nazis. They Just Surfaced at an Ohio Auction House Smithsonian Magazine Woman clears out old barn and auctions off over a dozen vintage cars including 1960s classic The US Sun Rare First Edition of America's Earliest Drawing Book to Auction finebooksmagazine.com Psycho Suzi's: The gift that keeps on giving kare11.com |
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