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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: N.J. county to auction surplus vehicles, equipment, electronics. See full list, minimum bids. NJ.com The Photograph Collector – The auctions The Eye of Photography Warren Co. surplus auction ends soon. How to bid on trucks, buses, more before it closes. lehighvalleylive Bing Crosby’s Grand Piano From ‘High Society’ and Other Items From the Crooner’s Home to Sell at Auction Mansion Global Museum Club's contents scheduled for auction on Nov. 8 Arizona Daily Sun 60+ collector cars: Broad Arrow Auctions to offer Ferrari, Jaguar, Bugatti at Zürich Auction Nov 1 Stock Titan Edison, Middlesex County auctioning off vehicles, furniture, equipment and more Central New Jersey News What's up for grabs at the Zanesville Police Department's impound lot? Zanesville Times Recorder Every vehicle at the ZPD's auction has a story behind it, from 'misdemeanors to murders' Zanesville Times Recorder Matt Baker's "Party Girl" Cover, True Love Pictorial #5 Up for Auction Bleeding Cool News Wait, what? Ford to put up for auction 2006 GT with no minimum price and $800,000+ value Shifting Gears with Phoebe Wall Howard The Walking Dead Auctions Off Rick’s Hat, Lucille & More in Huge Memorabilia Sale LIVING LIFE FEARLESS What's up for sale at the Zanesville Police Department's Oct. 18 auction? Take a look Zanesville Times Recorder Cars at Richmond Auctions; Events Aid Women’s Health, Animals & More - In The Know 10-12 Greenville Online The Nikola Tesla-Inspired Debut of The Masked Marvel, Up for Auction Bleeding Cool News News Flash • Notice of Sale of Real Estate LENAWEE.MI.us January auction set for Green Mountain Race Track property in Pownal, Vt. The Berkshire Eagle Before Plastic Man: Jack Cole's Silver Streak Debuts in #3, at Auction Bleeding Cool News What The Google Trial Is Missing: Data, Not Auctions, Will Decide The Fate Of The Open Web AdExchanger Regions Bank building complex in downtown Shreveport is up for auction at Sheriff's Sale Shreveport Times Broad Arrow Auctions Achieves €26 Million in Sales at Inaugural Zoute Concours Auction Quiver Quantitative David Dike Fine Art Announces Fall Auction Art & Object You could score a killer deal on a YT bike — or a goat head — at auction Singletracks Mountain Bike News Gooding Christie’s Strengthens European Expansion With Key Appointments Ahead of Paris Auction Motorious Hudson’s Bay will auction off thousands of art pieces and artifacts. Here’s how you can get a piece of the history The Globe and Mail Silent Auction Fundraiser at Glenmere Brewing Company www.warwickadvertiser.com Germany raises €2.5B in dual 30-year bond auctions breakingthenews.net St. Louis Center Announces 38th Annual Fall Dinner Auction The Sun Times News Einstein’s fiddle makes over £1 million at auction Just Collecting Chicago Blackhawks celebrate 100 years with record-breaking centennial charity auction FOX 32 Chicago Robinhood, Udemy, ACV Auctions, eHealth, and EverQuote Shares Are Falling, What You Need To Know Yahoo Finance CorvSport Original, In The Ring, E7: Do No-Reserve Corvette Auctions Fetch More Money? CorvSport.com A Historic Tiara With Ties to Queen Elizabeth Is Going Up for Auction Town & Country Magazine Cruisin’ for a cause: Coast nonprofit auctions restored Volkswagen to fund addiction recovery - WLOX 1989 Ford Probe GT 5-Speed With 60K Miles Up For Auction Ford Authority €26.29M total sales — Broad Arrow Auctions' inaugural Zoute Auction nets 78% sell-through Stock Titan Blythe Russo Auctions Rights To Debut Graphic Novel, Dessert Island Bleeding Cool News Better than Black Friday, auction set for Saturday Sequoyah County Times Mysterious company wins Marineland Dolphin Adventure auction with $7.1M bid Daytona Beach News-Journal Lackluster EU Gas Capacity Auctions Hinder Supplies to Ukraine energyintel.com Gober Community Club Hosts Annual Fall Festival and Auction in Gober, Texas, USA, Celebrating Rural Traditions with Food, Games, and Fundraising: Check It Out Now Travel And Tour World Auction expert sees continued demand for farmland Farm Progress This super rare Ford will be up for auction for first time ever at Arizona event The Arizona Republic Ford Will Auction off a Special Member of Its Prized Heritage Fleet for the First Time Ever Car and Driver Cedar Valley Makers look to raise funds, awareness with auction and open house Waterloo-Cedar Falls Courier Somerset County auctioning off vehicles, electronics and more Central New Jersey News INAUGURAL ZOUTE AUCTION ACHIEVES OVER €26M IN TOTAL SALES AND 78 PERCENT SELL-THROUGH RATE GlobeNewswire ‘Oh He's Over There Massaging Cars’ — Car Dealer Reveals His Secrets When Buying at Manheim Auto Auctions MotorBiscuit |
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