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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: Two Classic Harley-Davidson Road Kings Go Under the Hammer at No Reserve from Henderson Auctions Yahoo! Autos Edaville Railroad's carousel sells for $90,000 at Massachusetts auction, and it won't be going far CBS News One by one, from carousel to dinosaur, Edaville's attractions are sold at auction The Patriot Ledger Mayfield Heights property fails to sell at auction Crain's Cleveland Business ‘Sell America’ fears look more like ‘buy less’ as Treasury auctions loom and a debt-limit battle brews MarketWatch Garden: Dive into greenery at Chadwick Arboretum’s Spring Plant Sale and Auction The Columbus Dispatch General Procurement & Auctions Iowa Department of Transportation (.gov) CARLS TOWING ABANDONED VEHICLE goSkagit Land auction volumes soar in Iowa Brownfield Ag News JOE R. PYLE COMPLETE AUCTION & REALTY SERVICE Bluefield Daily Telegraph Carpentry auction benefits Scranton nonprofit Scranton Times-Tribune Weekly Coffee News: A Coffee Equipment Auction + New Stumptown Bags Daily Coffee News by Roast Magazine RM Sotheby’s To Auction 12 Historic Alfa Romeos At Monterey 2025 duPont REGISTRY News Valentine Livestock Auction The Norfolk Daily News Classic cars and a Cadillac hearse | More of Jamey Noel's assets hit the auction block this week WDRB AUCTION: 17k-Mile 2007 Dodge Charger R/T Road and Track MoparInsiders Rare Ken Griffey Jr. Card At Auction for First Time in 20 Years Sports Illustrated Kentucky Fish and Wildlife spring auction set for May 5 Kentucky Fish and Wildlife (.gov) AES Ohio auction results point to higher electric prices Dayton Daily News FERC approves PJM capacity auction price cap, floor Utility Dive Unclaimed property firearms auction raises over $132,000 journal-news.net Sotheby’s to auction Bowmore ARC-54: Iridos Edition The Spirits Business eBay Launches Auction of Pre-Loved Fashion and Custom Porsche Ahead of Miami Race Weekend PR Newswire Magoffin County Rescue Squad’s 47th Media Auction Item List Salyersville Independent - Rare Gold Token Offered at Noonans’ Auction Numismatic News St. Clair County will auction off 36 vacant lots it owns Belleville News-Democrat Musician Dave Westerbeke’s collection of guitars hitting the auction block Sonoma Index-Tribune Around $2K Pledged During Good Karma Brands John Moser Children's Radiothon Dessert Auction Daily Dodge Auction scrapped for large Detroit office complex as potential buyer emerges Crain's Detroit Business Children Trust Michigan to hold annual auction in East Lansing https://www.wilx.com Myron Bowling Mexico Announces Live Webcast Auction for Closure of Leading Automotive Glass Manufacturer PR Newswire Cherish the Children Auction & Dinner returns May 8 to support Liberty House Polk County Itemizer-Observer 1961-62 Fleer SGC 9 Wilt Chamberlain Rookie Card Sells For $93,000 at REA Auction Sports Illustrated 18 Lot auction online now Harnesslink Rare Early Basquiat to Lead Sotheby’s Contemporary Auctions in New York with $10 M. to $15 M. Estimate ARTnews.com Clean Energy Auctions in Latin America Inter-American Dialogue |
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