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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: Giant Moi-era contractors squirm as auctions widen Business Daily U.S. Treasury auctions of $22 billion of the 30 year bonds at a high yield of 4.734% - investingLive Cruisin’ for a cause: Coast nonprofit auctions restored Volkswagen to fund addiction recovery - WLOX Bob Ross artwork to be sold to help public television after funding cuts The Washington Post Halloween Auction of Real-Life 'Conjuring' Home Is Canceled—Marking Latest Twist in Property's Eerie History Realtor.com Auction for ‘The Conjuring’ house canceled after mystery buyer purchases haunted property New York Post ‘The Walking Dead’ Auction Lets Fans Own a Piece of the Apocalypse — Just in Time for Halloween Atlanta News First BLM rejects only bid in Montana coal lease sale, postpones Wyoming auction E&E News by POLITICO Aschoff-Donner/Janssen Auction The Norfolk Daily News Robinhood, Udemy, ACV Auctions, eHealth, and EverQuote Shares Are Falling, What You Need To Know FinancialContent City auction volumes rebound following holiday lull Mortgage Professional America Magic Valley Auctions Oct 22 Online Idaho State Journal Christie's jumps into November art auction fray with sale of Stefan Edlis and Gael Neeson art collection Chicago Sun-Times From gold ingots to Columbo DVDs: A look at the items in Florida’s unclaimed property auction - WKMG This Fabergé Egg Could Crack $27M At Auction nationaljeweler.com Commission publishes Terms and Conditions for the first pilot auction for industrial heat decarbonisation with a budget of €1 billion European Commission Longboard Specialty Coffee Sets Auction Records a Month After Founder Dies Daily Coffee News by Roast Magazine Larva Labs Art Blocks Auction Surpasses $30,000 The Defiant Farmers National Company The Norfolk Daily News Distillers One of One Auction Raises Nearly $3M The Whiskey Wash Rwandan coffee breaks record, rakes 14 times market price in global auction Business Insider Africa The Five Most Expensive Lots From The Record Breaking Distillers One of One Auction The Whiskey Wash Navient affiliate announces intentions for SLM Student Loan Trust 2006-7 note auctions Investing.com Steve Huntley Auction from Crabtree Auctions Enquirer Democrat Downtown Shreveport’s Regions Center is going up for auction. See details. The Shreveport-Bossier City Advocate OCSA students turn pumpkins into art for auction Orange County Register Fall Carlisle Auction Wraps 2025 with $5.5 Million in Sales duPont REGISTRY News Jean-Michel Basquiat’s $45 M. ‘Crowns (Peso Neto)’ to Headline Sotheby’s Fall Auctions in New York ARTnews.com Donations of silent-auction items now being accepted Coastal Point 23RD ANNUAL BUFFALO PAL AUCTION City of Buffalo (.gov) Why Machinery Pete Sees Used Tractor Values Coming on Strong, Plus Weekend Auctions To Watch - AgWeb Spartanburg signature chefs auction FOX Carolina HEATWOLE AUCTION TEAM dnronline.com MOMA Auction Runs Today Through Oct. 20 RePlay Magazine Two legacy Oklahoma ranches hit auction block High Plains Journal Oasis memorabilia valued at £1m to hit the auction block Yahoo Lifestyle Canada Brazil announces new auction to lure foreign capital into green projects with FX hedge mechanism Reuters Marine Auctions: October Online Auctions Sail-World.com Former Police Officer to Auction Rare One-Sided Thai Banknotes Khaosod English Kinzenbaw Antique Tractor Auction Set for November DTN Progressive Farmer Tibbits Opera House seeks donations for ‘Breakfast at Tiffany’s’ auction Coldwater Daily Reporter Last home goes to auction at city-owned mobile home park Mitchell Republic Step Inside Iris Apfel's World: Millea Bros. Auctions Off 1,100 Lots from the Icon's Legendary Homes PR Newswire Opinion: Farm Fest Silent Auction 2025 Creating Connection davidsonlocal.com Key ad industry players propose new standards to Big Tech for digital auctions - WSJ (META:NASDAQ) Seeking Alpha Beautiful offerings at Taste of Chewelah art auction chewelahindependent.com Third Annual Sheriff’s Memorial Auction & Dinner fresnosheriff.org Bears Club Silent Auction Opens Today at 4:00 PM Lenoir-Rhyne University Athletics Gemfields’ Mini Mixed-Quality Ruby Auction Garners $11M nationaljeweler.com Nearly 150-year-old downtown Louisville site, 18th century home among 3 new auction listings The Courier-Journal 72-Acre Campground Announced for Auction Biz New Orleans Elton John-inspired Watford FC shirts are going up for exclusive auction Dork | Down With Boring Some Selling Pressure After Auction and Fed Minutes Mortgage News Daily 2018 Ford Focus RS With 30K Miles Up For Auction Ford Authority |
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