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Auction and Its Benefits
An auction is basically a public sale wherein any object is
sold 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:
Author: Kellin
http://www.autocastle.com/
http://www.autocastle.com/dealers.asp
 MORE RESOURCES updated Thu. February / 09 / 2012
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Elizabeth Taylor auctions raise $183 millionWPXI PittsburghChristie's auction house says all of the 1817 lots offered sold at auctions in New York and London, some at 50 times their pre-sale estimates. The top lot was Vincent van Gogh's landscape "Vue de l'asile et de la Chapelle de Remy," which once hung in ...and more » |
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Elizabeth Taylor auctions raise $183 millionYorkdispatch.comChristie's auction house says all of the 1817 lots offered sold at auctions in New York and London, some at 50 times their pre-sale estimates. The top lot was Vincent van Gogh's landscape "Vue de l'asile et de la Chapelle de Remy," which once hung in ...and more » |
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Elizabeth Taylor auctions raise $183 millionWBRCChristie's auction house says all of the 1817 lots offered sold at auctions in New York and London, some at 50 times their pre-sale estimates. The top lot was Vincent van Gogh's landscape "Vue de l'asile et de la Chapelle de Remy," which once hung in ...and more » |
KFOX El Paso |
Elizabeth Taylor auctions raise $183 millionKFOX El PasoChristie's auction house says all of the 1817 lots offered sold at auctions in New York and London, some at 50 times their pre-sale estimates. The top lot was Vincent van Gogh's landscape "Vue de l'asile et de la Chapelle de Remy," which once hung in ...and more » |
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Elizabeth Taylor auctions raise $183 millionCineplexChristie's auction house says all of the 1817 lots offered sold at auctions in New York and London, some at 50 times their pre-sale estimates. The top lot was Vincent van Gogh's landscape "Vue de l'asile et de la Chapelle de Remy," which once hung in ...and more » |
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Elizabeth Taylor auctions raise $183 millionU.S. News & World ReportChristie's auction house says all of the 1817 lots offered sold at auctions in New York and London, some at 50 times their pre-sale estimates. The top lot was Vincent van Gogh's landscape "Vue de l'asile et de la Chapelle de Remy," which once hung in ...and more » |
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Q: I read your last column about paying income tax on eBay
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If you want to earn a full-time income selling on eBay, you
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If you have dabbled at all in the world of Internet
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When my column on paying income tax on eBay profits ran it
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Like the human heart, drop shippers can keep the blood
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An untapped online business resource--outside of your basic
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Fed Up With
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For many people, their first experience of working online
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Your eBay Username -
What Does It Say About You?
Have you tried to register a decent eBay username and been
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If you've studied business concepts you know that finding a
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Eating and Thriving
On-Line
The Internet SHOULD be "the place to shop" for low-carb
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diet. The posted prices are well below those in retail
stores, the variety is greater, you are dealing with firms
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Need Extra Money? Buy and Sell Your Gently Used Baby
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eBay! Hi Moms, So, you had your precious baby, and you
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8 Top Tips For
Successful Art Auction Listings
Why is it that some artists seem to make easy money on eBay
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A turns a good profit year in year out and has Powerseller
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5 Sure-Fire Ways to Make
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Have you ever dealt with a salesperson or a waiter who gave
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