What is the forward auction?
auction forward is a type of event in which the seller accepts offers from various potential buyers, and retains the right to choose any of these offers or all refuse them all. This type of auction can take several different forms, from auctions that include the determination of the minimum price and then entertaining offers that are above this minimum, or from high prices that are unlikely to be met, and then accept offers that are as close as possible to this high price. One of the distinguishing characteristics is that, unlike other types of auctions, the seller has the ability to reject all offers and maintain ownership of the items located in the auction if none of the tenders is considered acceptable.
One of the more common examples of forward auction is known as the English auction. In this scenario, the seller sets minimal acceptable and entertains offers that are gradually higher than the minimum. With this approach all participants know the amount of each offer that is locatedOn, although the identity of each candidate may or may not be known to anyone except the seller. Once the offer is closed, the seller can check each offer and make a decision on which one will be taken. The seller may also decide that all offers are unacceptable and have decided to maintain ownership of the item for the present.
A similar approach to a forward auction is known as a Dutch auction. With this approach, the price set by the owner is usually very high and is gradually reduced until the offer is received on the item. From there, the offers can be amused until the offer is officially closed. From there the seller evaluates the offers, usually with the one that is as close as possible to the original price.
other forms of forward auctions are also commonly used. The Japanese auction begins with a minimum offer and requires all participants to offer to each auction level or fall pRavo to continue. With Yankee, the Yankee offers sellers at auction of multiple units of the item, with applicants specifying the amount and price based on this quantity. Several forms of forward auction work well in both virtual and traditional environments, which makes the use of electronic auction to offer real estate or to accept offers for goods and services from sellers and other types of suppliers very easy and comfortable.