What is the auction?
Auction is an event in which goods or assets are sold to the highest bidder. By being open to the public, the auction provides a wide range of offers and sometimes items in the auction can get surprisingly high prices. Applicants, in turn, create their own market and on an individual basis for how much they want to pay for the item rather than having prices dictated by the seller. A number of auctions are performed worldwide. The auction is controlled by the auctioneer, someone who monitors the offer and determines the final winner. In some cases, the seller can set a minimum offer and ensure that the item does not sell below a certain price. Famous auction houses such as Sotheby's specializing in this type of auction.
in another type of auction, Dutch auction, auctioneer starts at a specified price and then reduces it. Dave members offer and then hear the prices they like. Dutch auctions can also be used to sell multiple units of the same item to a large crowd; For example, someone who sells a lot of hay can allow all čLeny of the crowd to pay the same price as soon as a fair offer is reached.
In some cases, people in the auction can submit closed offers that are open at the same time. The winner of the auction is the person with the highest offer. In another variant at the basic auction, quiet auction people wander around the room and look at objects and write their offers on accompanying sheets of paper. Participants can see other people's offers and may decide to try to face the offer of another person if they want the item in particular. At the end of the specified period, the highest offer is called the winner.
In most auctions, people can offer remotely by giving the auctioneer a letter reporting their intention to offer and the maximum amount they are willing to offer. Specifically, some auction houses take care of and maintain a number of people on staff who stay on the phone with customers during the auctions and offer as a representative for their clients. In other cases, the auction can be done quite remotely asO is for online auctions.
In general, the offer is considered legally binding. The participant offers an offer to pay the amount it offers. In high -ranking auctions, applicants may be asked to deposit money for custody accounts or to provide additional evidence that they are able to pay for the items they offer.