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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


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Thu. October / 19 / 2017

UPDATE 1-Mexico expects to hold a third oil and gas auction in 2018 - Reuters

UPDATE 1-Mexico expects to hold a third oil and gas auction in 2018
Reuters
HOUSTON, Oct 19 (Reuters) - Mexico's oil regulator will likely add another auction in 2018 featuring conventional onshore oil and gas blocks, the head of the National Hydrocarbons Commission (CNH) said on Thursday, potentially teeing up a third tender ...

and more »

UPDATE 1-Mexico expects to hold a third oil and gas auction in 2018 (BHP, BLT) - Markets Insider

UPDATE 1-Mexico expects to hold a third oil and gas auction in 2018 (BHP, BLT)
Markets Insider
HOUSTON, Oct 19 (Reuters) - Mexico's oil regulator will likely add another auction in 2018 featuring conventional onshore oil and gas blocks, the head of the National Hydrocarbons Commission (CNH) said on Thursday, potentially teeing up a third tender ...

and more »

UPDATE 1-Mexico expects to hold a third oil and gas auction in 2018 - Reuters Africa

UPDATE 1-Mexico expects to hold a third oil and gas auction in 2018
Reuters Africa
HOUSTON, Oct 19 (Reuters) - Mexico's oil regulator will likely add another auction in 2018 featuring conventional onshore oil and gas blocks, the head of the National Hydrocarbons Commission (CNH) said on Thursday, potentially teeing up a third tender ...


UPDATE 1-Mexico expects to hold a third oil and gas auction in 2018 - Reuters Africa

UPDATE 1-Mexico expects to hold a third oil and gas auction in 2018
Reuters Africa
HOUSTON, Oct 19 (Reuters) - Mexico's oil regulator will likely add another auction in 2018 featuring conventional onshore oil and gas blocks, the head of the National Hydrocarbons Commission (CNH) said on Thursday, potentially teeing up a third tender ...

and more »

Mexico expects to hold a third oil and gas auction in 2018 - Times of India

Mexico expects to hold a third oil and gas auction in 2018
Times of India
(Adds quotes, context on reservoir unitization). By Marianna Parraga. HOUSTON, Oct 19 (Reuters) - Mexico's oil regulator will likely add another auction in 2018 featuring conventional onshore oil and gas blocks, the head of the National Hydrocarbons ...

and more »

UPDATE 1-Mexico expects to hold a third oil and gas auction in 2018 - Kitco News

UPDATE 1-Mexico expects to hold a third oil and gas auction in 2018
Kitco News
A landmark 2013 constitutional energy reform championed by President Enrique Pena Nieto paved the way for the auctions, in which private firms can bid to operate oil and gas fields on their own. Before the reform, state-owned company Pemex had a ...

and more »

30-Year TIPS Reopening Auctions With A Real Yield Of 0.908% - Seeking Alpha

Seeking Alpha

30-Year TIPS Reopening Auctions With A Real Yield Of 0.908%
Seeking Alpha
The after-inflation yield came in right on target, based on pre-auction trading in this TIPS on the secondary market. The inflation breakeven rate was a moderate 1.92%. This TIPS seems fairly priced versus a nominal 30-year Treasury. Long-term real ...


Pristine 1988 Ford Sierra Cosworth RS500 heads to auction - expressandstar.com

expressandstar.com

Pristine 1988 Ford Sierra Cosworth RS500 heads to auction
expressandstar.com
An immaculate 1988 Ford Sierra Cosworth RS500 with a mere 6,000 miles on the clock will go under the hammer next month. The classic fast Ford will be auctioned as part of Silverstone Auctions' NEC Classic Motor Show Sale, and is tipped to sell for ...

and more »

Mexico expects to hold a third oil and gas auction in 2018 - Reuters

Mexico expects to hold a third oil and gas auction in 2018
Reuters
HOUSTON, Oct 19 (Reuters) - Mexico's oil regulator will likely add another oil auction in 2018 featuring conventional onshore oil and gas blocks, a senior official said on Thursday, potentially teeing up a third tender in an election year. The bid ...

and more »

Mexico Expects To Hold A Third Oil And Gas Auction In 2018 - Rigzone

Mexico Expects To Hold A Third Oil And Gas Auction In 2018
Rigzone
HOUSTON, Oct 19 (Reuters) - Mexico's oil regulator will likely add another oil auction in 2018 featuring conventional onshore oil and gas blocks, a senior official said on Thursday, potentially teeing up a third tender in an election year. The bid ...

and more »

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