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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: Exclusive | Jeffrey Epstein’s little black book up for auction again — but this time it’s 50% off New York Post St Peters terrace that was once a driveway sells for $2.02m at auction Sydney Morning Herald National homebuilder outbid in back-to-back West Valley land auctions ABC15 Arizona in Phoenix National homebuilder outbid in back-to-back West Valley land auctions The Business Journals Barnes & Noble Widow to Auction $250 Million Art Collection The New York Times OJ Simpson bible that includes note from Robert Kardashian could hit the auction block New York Post 30th Annual VCSU Scholarship Auction set for April 11 Valley City State University Sundance Docu ‘Selena Y Los Dinos’ In Auction; Netflix In Pole Position For $6M-7M Deal: The Dish Deadline Walnut Hill Ruritan Holds 50th Annual Auction (With Photo Gallery) NorthEscambia.com Annual Main Street Auction and Dueling Pianos brings in $32,100 Emporia Gazette Procigar 2025 Humidor Auction Totals $367,700 halfwheel.com Why ACV Auctions Inc. (ACVA) Crashed on Thursday Yahoo Finance FSF Auctions Off Original GNU iProgrammer Boston office tower going on the auction block CommonWealth Beacon Annual 4H benefit auction returns March 11 New Castle News 2025 Fantasy Baseball Mock Draft: AL-only Rotisserie salary cap (auction) results, along with recap CBS Sports VIPER V10-Powered Jeep® Wrangler (TJ) Up For Auction Mopar Insiders 4 Low-Mile Plymouth/Chrysler Prowlers Headed To Auction Mopar Insiders Barberton Masonic Temple fixtures and furniture go to auction, with demolition coming soon Akron Beacon Journal Florida Compound With River Views Inspired by the Homes of the Old South Heading to Auction Mansion Global $60,000 dog houses? SNIP Collier auctions off custom luxury dog houses for fundraiser Naples Daily News Joann heads to auction block Friday after bidders signal interest to bankruptcy court Akron Beacon Journal Joann bankruptcy auction finally underway after repeated delays Friday Akron Beacon Journal Egon Schiele Watercolor, Said to Be Nazi-Looted, Set for Auction The New York Times No residential projects on riverfront, auctions cancelled The Times of India Middletown fire safety house that educated thousands sold at auction; money to fund new learning tools Hamilton Journal News Riverfront retail buildings at the Flats East Bank project are up for auction this week News 5 Cleveland WEWS US Considering Scrapping Multibillion-Dollar Power Auctions Financial Post Christie’s experts on their favourite objects from the Contemporary New York auction series Christie's Ex-CHP 1982 Dodge Ramcharger 4×4 Up for Auction Mopar Insiders Pacific Sunset Villa on the Kona Coast in Hawaii to Auction via Sotheby’s Concierge Auctions EIN News Greg Beckwith Throwback Jerseys - No. 13 RIchmond Spiders Athletic Danbury puts decommissioned fire house up for auction: ‘Sad to see it go' Danbury News Times Serbia allocates entire quota at second auctions, investors to install 645 MW of wind, solar Balkan Green Energy News 24 Texas Dairy Queen restaurants to close, items up for auction KETK | FOX51 | EastTexasMatters.com Auction of S.F.’s troubled downtown mall delayed — again San Francisco Chronicle Why ACV Auctions (ACVA) Stock Is Down Today Financial Content Just Press Play owner auctions more rare video game memorabilia towards future opening of 'mega store' LNP | LancasterOnline 2025 fantasy baseball draft sheet: Downloadable stats, auction values and ranks for 500+ players - The Athletic The Athletic Bidding for a common cause: Habitat for Humanity of the MOV holds annual Callihan Charity Auction Marietta Times Cars burn up at auto auction lot Mid Hudson News Website Rare item of OJ Simpson's featuring strange inscription from Robert Kardashian to go to auction Daily Mail Paris Hilton auctions off her Y2K outfits for LA wildfire relief — and they’re already sold out The Independent BTS at auction with Bardstown Bourbon The Spirits Business 1927 Babe Ruth HR Display Owned By Jimmie Reese Part of Heritage Auctions Sale Sports Collectors Daily Russia Sells Famed Imperial Prison at Auction The Moscow Times Audubon to host Pi Day Pie Auction starting Feb. 28 timesobserver.com Federal Courthouse soon to be up for auction WHO TV 13 Des Moines News & Weather Former federal courthouse in Des Moines going up for auction KCCI Des Moines Procigar 2025 Humidor Auction Lots Revealed halfwheel.com Indian art auction market has almost doubled in past five years, says Dinesh Vazirani The Financial Express FERC's Upcoming Review of Power Auctions and Grid Reliability - News and Statistics - IndexBox, Inc. Celtics Hall of Famer Bill Walton's Estate to Auction Off Legendary Personal Collection Sports Illustrated Christie's holds 'Augmented Intelligence' art auction Spectrum News NY1 This 300-year-old violin could become the most expensive musical instrument The Washington Post |
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