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Auction - May The Best Bidder Win
An auction means a public sale of properties or objects that are
sold to the highest bidder. There are a whole lot of things that
can be put to auction. There are auctions that are held under
various categories such as antiques and art,...
eBay Listing Service : Make Managing Your Auctions Easy
Do you want to have a lot of auctions going but don’t have time to keep track of them all? Trust me, you’re not alone. With more and more people making significant portions - if not all - of their income from their eBay auction websites the need has...
Online Auctions
As popular as they are, online auctions should be approached with care. Many times, merchandise is offered that either may be illegal, fraudulent, or simply doesn't exist, and the vendor takes your money and runs. So what can you do to protect...
Save Thousands at Auto Auctions - Without Marrying a Car Dealer!
The Common Misconception: Auto auctions are only open to
car dealers.
The Surprising Truth: Anyone with the right resources can
participate in the same auctions as the dealers!
Think about it. How much could you save if you bypassed
the...
Winning Auction Photos - The Basics of Producing Auction Images
Basic information about photographing auction items and editing and uploading the images.
April, 2003
Millions of potential buyers visit the online auction sites every day. In 2002 eBay's 27 million active members participated in...
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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.
About the author:
Author bio:
Author: S.M
http://www.autocastle.com/
http://www.autocastle.com/dealers.asp
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