What Is a Double Auction?

Auction (auction) is an auction house specializing in auction business. It accepts the consignment of the owner of the goods, and displays the goods to be auctioned to the buyer at a specified time and place according to certain regulations and rules. A spot trading method of selling to the highest bidder. ^[1]

[pi mài]

Auction (auction) is an auction house specializing in auction business. It accepts the consignment of the owner of the goods, and displays the goods to be auctioned to the buyer at a specified time and place according to certain regulations and rules. A spot trading method of selling to the highest bidder. ^[1]

Three basic characteristics (or basic conditions) of an auction:

1. There must be more than two buyers in the auction : that is, where the auction shows that there is only one seller (usually filled by the auction agency) and there are many possible buyers, so that the latter can have the auction items that they want to buy with each other Conditions for price competition.

2. The auction must have a constantly changing price: that is, all auctions are not the seller's fixed price for the auction item for sale or the buyer and the seller bargaining on the auction item, but the buyer should make another offer based on the starting price announced by the seller on the spot Until the highest price is finally determined.

3. The auction must be openly competitive: that is, all auctions are conducted by different buyers in the public place for the same auction item, and they are bidding for the map, and if all buyers have no meaning to any auction item, there is no competition If it happens, the auction will lose any meaning.

Auction methods are

The general process of auction business can be divided into three stages:

"

The earliest auctions in human history, as written in the records, are

There are three main aspects:

(Adopted at the 20th meeting of the Standing Committee of the Eighth National People's Congress on July 5, 1996.

Rise and Fall of Chinese Art Auction Market

At the end of 2012, when talking about the Chinese art auction market in recent years, many people used a very vivid word "waist cut" in reference to the total turnover of the Chinese art auction market in 2012. A "miserable" shrunk by almost half compared to 2011. In response, the optimist said that this was a "rational pullback"; the pessimist sighed that it was "encountered by the cold." What exactly happened in the art auction market?

If counting from 2003, this round of Chinese art market has lasted for nearly ten years. Although there has been a surge and a correction in the past ten years, the "long bull" trend has basically remained unchanged. Even under the impact of the global financial crisis in 2008, there was an unexpectedly rapid recovery and a strong rebound.

Specifically, the sharp correction of the autumn auction in 2012 was actually caused by various reasons: First, the economic environment. When the economic situation is not optimistic, it is a rational choice for collectors and investors to hold tight to the money bag and maintain sufficient cash to "overwinter". The second is expectation. In many cases, expectations are more important than the status quo. Buyers' wait-and-see is not necessarily because they are really prepared to stay away from the art market, but it is likely that they hope to "taobao" at a lower price in the near future. The third is price. The price of Chinese art recently is still very expensive, after all, it has been rising for so many years. To be honest, a lot of true experts can no longer afford to buy. The fourth is supply. After so many years of trading and precipitation, there are indeed fewer and fewer "good things" that can be publicly circulated on the market. The reason why major Beijing and Shanghai art auction companies and even national art auction companies go to overseas to solicit lots is the same reason. Five is credit. The credit problem of the Chinese art market has a long history, but as the market becomes more and more popular, the seriousness of this problem has become increasingly prominent. For example, the phenomenon that buyers who have far-reaching influence on the market do not pay, it is not a small blow to the chain effect of the entire art auction industry.

Even so, the future of the Chinese art market remains promising. In the long run, with economic development and inflation, scarce and precious artworks will always appreciate. In the short term, when judging the prosperity of the art market, many people tend to focus on the total turnover index and the unit price of the "astronomical" lot. But in my opinion, what should be paid more attention to is the turnover rate indicator, which is the most intuitive indicator reflecting the "popularity" of the art market. Therefore, as long as this indicator is really getting bigger, it means that the market is picking up. In many cases, the so-called callback of the art market is actually just a "fall" and there is no "market" for "price". The total turnover is down, but the reason may be that the seller has no intention to ship or the reserve price is set too high. There are no good things on the market, how can there be "sky price" lots? How can there be high turnover? In fact, even in the callback period of the Chinese art market in 2012, the transaction status of some low- and medium-priced artworks was still very good. As long as it is a good thing, there is always a collector who knows what to do after falling down. This is a just need from the collectors.