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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: Rare Early Basquiat to Lead Sotheby’s Contemporary Auctions in New York with $10 M. to $15 M. Estimate ARTnews.com Want a one-of-a-kind man cave treasure? Portions of Spartan Stadium scoreboards up for auction Lansing State Journal Top 10 Car Auctions To Watch in 2025 duPont REGISTRY News Boys & Girls Clubs of Metro South raises $544K through Gala Auction at Gillette Stadium Taunton Daily Gazette FERC approves PJM capacity auction price cap, floor Utility Dive Kentucky Fish and Wildlife spring auction set for May 5 Kentucky Fish and Wildlife (.gov) Auction planned for cancer patient huntingdondailynews.com State announces auction date of surplus heavy equipment and state vehicles Vermont Business Magazine Growing Chesterhill Produce Auction has been a two-decade labor of love Athens County Independent Two suspects arrested in connection with Warren County car auction robbery FOX19 | Cincinnati Auctions The Military And CIA-Provenance Highlights Of The Monaco Legend Group Spring Auction Hodinkee Why confidence in the commercial property market is building and why auctions are leading the charge CoStar This iconic Route 66-inspired Springfield restaurant is going up for auction Springfield News-Leader Rare Custom Rolex Daytona Heads to Auction nationaljeweler.com Auction: Wellsville household is on sale until April 30, see GALLERY the wellsville sun Napoleon's sword to be sold at auction in Paris Yahoo News UK Tall Order: Artis Gilmore Consigns Collection To Grey Flannel Auctions Sports Collectors Daily iDealwine Publishes Their Data-Driven Auction Barometer Wine Industry Advisor West Haven office building hits auction block Hartford Business Journal Wake Forest University Athletics Auctions Wake Forest University Athletics Mecum Auctions Announces 38th Original Spring Classic At Indiana State Fairgrounds This May DriveSpark Troubled Reno Kimpton site hit with auction notice by lender Reno Gazette Journal Bike from Pee-wee’s Big Adventure Going Up for Auction Consequence of Sound Rotary Club looking for the community’s help to smash their Auction total heading into the weekend whopam.com Imperial Glass collectors set for 49th annual convention featuring Lucille Kennedy auction in Ohio WTRF Bass House Art Collection Heads to Christie’s for Global Auction Fort Worth Magazine A Magritte Drawing Found on eBay for Less Than $2,000 Heads to Auction for Over $100,000 ARTnews.com Charity Auction Offers Exclusive Ghostbusters Experience: Tour Ghost Corps, Meet Jason Reitman, Plus More Ghostbusters News Valley Haven gears up for auction Friday Valley Times-News Game-Used or Autographed All auctions Baltimore Orioles Auctions Clean Energy Auctions in Latin America Inter-American Dialogue The Union flew the white flag of surrender at Fort Sumter. Now it's up for auction in Greenville. Post and Courier Why Did This Broken Ceramic Pot Sell for More Than $60,000 at Auction? Smithsonian Magazine Guatemala opens 1.4 GW energy auction pv magazine International Gallop for the Glow: Fine bourbons on auction block during Coshocton Derby Day event Coshocton Tribune |
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