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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: A Ten Commandments Tablet Sells for More Than $5 Million at Auction The New York Times Rip and replace funds AND an auction: Happy New Year! Fierce Network Junior Caminero MLB Debut Patch Sells For $66,000 At Auction Baseball America Unclaimed treasures find new homes at Oklahoma auction KFOR Oklahoma City Shelby Cobra replica from “Bad Boys” heads to auction Motor Authority Sharing the Shared Rides Through Double Auctions – Lubar College of Business University of Wisconsin-Milwaukee The Most Expensive Diamond Jewelry Auctions of 2024 Only Natural Diamonds Selected Western livestock auctions Capital Press Christie’s Wine Department Final Auctions of the Season Achieved $2.6 Million wineindustryadvisor.com 9 of the Most Exceptional Jewels Sold at Auction in New York Galerie Magazine Ancient Ten Commandments tablet sells for $5 million at Sotheby's auction The Jerusalem Post 2010 Ford F-150 Lariat With 14K Miles Up For Auction Ford Authority Ken Paxton Hits the Brakes on Biden’s Plans for Border Wall Auctions The Dallas Express Pagani Huayra R for sale at RM Sotheby’s Paris auction in 2025 The Supercar Blog Stuttgart Rotary Club hosts record-breaking 74th Annual Radio Auction on Country 97.3 Stuttgart Daily Leader Longtime director of Starlight Auction honored North Fort Myers Neighbor Trump blasted Biden administration's auction of border wall surplus. Can sales be stopped? The Arizona Republic Last bids for 2024, please: collector car auction market in review Magneto magazine Romania declares winners of its wind, solar power CfD auctions Balkan Green Energy News Deal Dash: Historic Second Avenue building heads to auction next month The Business Journals The Auction of a Legend! The 1989 Ferrari F40 Fetches Millions queerfeed.com.br 2002 Lincoln Blackwood With 44K Miles Heading To Auction Ford Authority 2022 Cadillac XT4 Sits in Auction Yard, Full of Pink Marker Circles. What's Wrong With It? autoevolution With repeal measure rejected, WA carbon auction prices surge Washington State Standard Need a car lift, or a dozen of them? Contents of former Erie Toyota dealership to be sold GoErie.com Going Into Year 3 Without FCC Spectrum Auction Authority BroadbandBreakfast.com Arizona’s unused border wall materials were ordered to be pulled from auction site Washington Examiner GOP senator moves to block feds from disposing of border wall materials amid auction backlash Fox News Kaufman's office building at Gravity II in Franklinton appears to sell at auction The Business Journals Bob Dylan Instruments, Handwritten Lyrics, Photos, & More Going Up For Auction - Live for Live Music Bob Dylan Instruments, Handwritten Lyrics, Photos, & More Going Up For Auction Live for Live Music Gravity office auction: What the sale could mean for the Columbus office market The Business Journals GOP hysterics over border wall auction are actually hysterical | Opinion The Arizona Republic Ten Commandments tablet, said to be 1,500 years old, goes up for auction America: The Jesuit Review Brazil to add four more pre-salt areas to future oil auctions Upstream Online 1998 Ford Contour SVT With 36K Miles Up For Auction Ford Authority Ten Commandments tablet surpasses estimates at Sotheby’s despite authenticity questions Catholic News Agency Fall Government Surplus Auctions to be Hosted Online Nov. 19, 20 With Public Preview Starting Friday Clark County (.gov) |
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