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An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types.
An English auction is an open-outcry ascending dynamic auction. It proceeds as follows. The auctioneer opens the auction by announcing a suggested opening bid, a starting price or reserve for the item on sale. Then the auctioneer accepts increasingly higher bids from the floor and sometimes from other sources, for example online or telephone ...
An online auction (also electronic auction, e-auction, virtual auction, or eAuction) is an auction held over the internet and accessed by internet connected devices. [1] [2] [3] Similar to in-person auctions, online auctions come in a variety of types, with different bidding and selling rules. [4]
The auction chant is a repetition of two numbers at a time which indicate the monetary amount involved with the sale of an item. The first number is the amount of money which is currently being offered by a bidder for a given item. The second number is what the next bid needs to be in order to become the "high bidder", otherwise known as "the ...
Auction theory is an applied branch of economics which deals with how bidders act in auctions and researches how the features of auctions incentivise predictable outcomes. Auction theory is a tool used to inform the design of real-world auctions.
Auctions. This is a topic category. Pages in this category should be moved to subcategories where applicable. This category may require frequent maintenance to avoid becoming too large. It should directly contain very few, if any, pages and should mainly contain subcategories. Wikimedia Commons has media related to Auctions.
Auctions. Auto auctions are a method of selling vehicles based on an auction system. [1] Auto auctions can be found in most countries and are usually exclusive to licensed automobile dealers. In a few countries, such as Japan, auto auctions are well known and used by most residents.
Overview. The auction house is the physical facility where the objects are catalogued, displayed, and presented to the perspective buyers through a bidding process system. An auction house. The private individual or company managing the house, usually offer services such as clearances, collection of items, shipping, while also advising through ...
In common value auctions the value of the item for sale is identical amongst bidders, but bidders have different information about the item's value. This stands in contrast to a private value auction where each bidder's private valuation of the item is different and independent of peers' valuations.
This redirect link is used for convenience; it is often preferable to add the plural directly after the link (for example, [[link]]s ). However, do not replace these redirected links with a simpler link unless the page is updated for another reason (see WP:NOTBROKEN ).