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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: David Lynch’s Director’s Chair Sells for $70,000 at Los Angeles Auction The New York Times David Lynch’s belongings fetch $4.25m at auction, including scripts for unfinished film The Guardian ‘Citizen Kane’ Rosebud Sled, DeMille’s ‘Ten Commandments’ Tablets Are Hitting the Auction Block Mansion Global Norfolk International Airport auction to include vehicles, cellphones, toys and more The Virginian-Pilot Auction for the sale of pope’s childhood home extended catholicnewsagency.com Bill Barilko hockey stick on auction 74 years after Maple Leaf legend's Stanley Cup-winning OT goal cbc.ca One of Cleveland's tallest office buildings heads to auction Crain's Cleveland Business Shohei Ohtani 50-50 home run ball auctions at record-shattering $4.4 million after last-minute flurry of bids Yahoo Sports How global art auctions expose FX fees imbalance Retail Banker International Deal alert!: Live government auction open to public slated for Saturday Panama City News Herald New NAR Guides: Auctions, Attorneys | Florida Realtors Brazil auctions off several Amazon oil sites despite environmentalists and Indigenous protests AP News $120,000 home sale: Rochester auctions tax-seized properties Foster's Daily Democrat ATLANTIC AUCTIONS INC. The Frederick News-Post Star Benefit Auctions Celebrates 20 Years of Successful Fundraising and Announces $1 Billion Raised for Nonprofits FinancialContent Surplus PennDOT equipment going to online auction NorthcentralPA.com 1997 Ford Ranger XLT With 35K Miles Up For Auction Ford Authority St. Bede raises $390K at 42nd annual auction Shaw Local David Lynch’s Director’s Chair Sells for $70,000 at Auction Galerie Magazine Ghostbusters Charity Auctions Raise Over $10,000 for St. Jude Children’s Research Hospital Ghostbusters News BROAD ARROW ADDS THE FOURTH SHELBY COBRA EVER BUILT, CSX GlobeNewswire York Beach Surf Club hotel auction: Perkins family may keep control Seacoastonline.com St. Louis resumes tow lot auctions after audit fallout First Alert 4 Sotheby’s Paris is to stage one of the most complete Napoleon auctions in years crossroadstoday.com Warren's Lobster House auction Seacoastonline.com Are Online Gun Auctions a Good Way to Buy a Gun? gundogmag.com Why America Cannot Afford to Wait Anymore: The Need for Spectrum Auction Reauthorization American Enterprise Institute Napoleon relics on display in Paris ahead of auction Northwest Arkansas Democrat-Gazette The City of Panama City to auction off assets mypanhandle.com Christie’s Breaks Records with the Marie-Thérèse Pink and the Largest Multi-Owner Jewelry Auction in History Natural Diamonds City of Elkins sells property in public auction on City Hall steps theintermountain.com 'Dreadful danger for all mankind': Einstein's powerful anti-war letter goes up for auction Live Science This Fossil Is Valued at Millions of Dollars and Brings Some Dinosaur Experts Dread The New York Times Leases Offered at Public Auction DNR WA (.gov) Mickey Mantle's Game-Used Jersey Is Up for Auction Sports Illustrated Valentine Livestock Auction The Norfolk Daily News Milwaukee Forge auction unsuccessful, buyer still sought for business BizTimes - Milwaukee Business News Auction for the Sale of Pope’s Childhood Home Extended National Catholic Register Greece to auction 26-week T-bills on Wednesday eKathimerini.com Minnesota developer acquires 217 Phoenix acres at state land auction The Business Journals Suburban Extended Stay sold at foreclosure auction after piling up code violations Pensacola News Journal Warren's Lobster House site goes for $2.25 million in auction Seacoastonline.com David Lynch Script for Unfinished Film Sells for Nearly $200,000 at Estate Auction Consequence of Sound Princess Diana Auction to Feature Over 300 Personal Items This June prestigeonline.com Final Leftover List for June 2025 Auction Heart of the Rockies Radio | David Lynch’s Private World Sold for $4.25 Million at Auction La Voce di New York The Two Kinds of Book Auctions Book Riot Junior Livestock Auction returns to the San Diego County Fair fox5sandiego.com Junior Livestock Auction ends 2025 San Joaquin AgFest ttownmedia.com 25323 Auction 7/7/25 Herald and News General Procurement & Auctions Iowa Department of Transportation (.gov) March Government Surplus Auctions to Feature Vehicles, Equipment for Sale; Bidding is Online Only Clark County (.gov) From murders to extortion, criminal threat looms over liquor vend auctions in Haryana Times of India New York’s Spring Auctions Aimed for Trophies. They Got Troubles. The New York Times |
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