Differences in the Types of Auctions That Take Place Around the World

Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.

Types of Auctions:

Different types of auctions take place around the world. Below mentioned are some types of auctions:

1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.

2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.

3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.

Examples of Auctions:

Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:

1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.

2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.

3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.

4. Horse auction: Bidders can bid for young horses of the best breed.

5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.

The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:

1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction

Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.

How to Find Great Live Auctions for Resale Items

Hi, my name is Walt. I’m an auctioneer with 25 years of experience in the auction business and licensed in the state of MA. I own Quick Auction Service, a company that specializes in building and running custom auctions, I’m also the webmaster of my own site and have been on eBay for 8 years. Besides eBay, the types of auctions I run most frequently are antiques and on-site estate auctions, although I’ve run everything from business overstock auctions to charity & special event auctions.

I enjoy sharing my knowledge and stories of the auction business. My goal for article is to help folks get the absolute most out of their auction experience.

Whether your fresh out of the package or a seasoned dealer I think I can offer something in this article to help you with your auciton adventures.

There may be as many reasons to attend auctions as there are types of auctions to attend. Maybe you want to attend an auction to buy items for re-sale on eBay, or some other market. Maybe you want to furnish your home with wonderful antiques, or you want to furnish your home as inexpensively without sacrificing quality.Some folks are just looking for a fun night out. With a little perseverance all these things are possible.

There are antiques and estate auctions, auto auctions, overstock auctions, absolute and no reserve auctions, real estate auctions, specialty auctions where only one genre of items are sold, tailgate auctions, live auctions, online auctions, sealed bid auctions, silent auctions, charity and fund raising auctions and many more.

Can you really buy for pennies on the dollar at an auction? You bet! Many times I’ve seen folks buy and re-sell at the same auction on the same night for a good profit, although be advised, this should only be done after the auction is over.

There are a lot of ways to find an auction, but here are some tips on how to find and attend the best ones.

Visit the genre of shops in the area that apply to the type of auction you want to attend. IE: If your looking for a good antique auction to attend, stop in the local antiques shops and ask for what there are for good auctions in the area. Sounds obvious right? But listen to what they don’t say as well as what they do say. Oftentimes when a dealer speaks poorly about an auction he or she attends, it may be likely that they are trying to keep a good thing secret. Think for a moment, why would a dealer keep attending a lousy auction?

Newspaper ads: I personally like to find ads in the classified ad section rather than flashy display ads. Flashy ads are usually indicative of an auction that will be high priced, may have reserves, (a set price on an item), and usually an enormous crowd. While any auction can be profitable to attend, it is usually best to steer clear of the glitzy ones, at least for the beginner.

Here’s the minimum you want to find out before you go. If there is a phone number in the ad, call and ask for the terms of the sale. What forms of payment do they accept? Is it an absolute auction? An absolute auction is one that has no minimum or reserve bids on items. These are the best auctions to attend! Is there a buyers premium? A buyers premium is like a tax that everyone who makes purchases at that auction must pay above the winning bid price. Most auctions these days do charge a buyers premium, 10% is not unreasonable but I feel much more than that is greedy, and the auctioneer that charges over 10% is counting on most bidders not doing the extra math as the bids quicken in pace.

A fair auction will have ample time to inspect the merchandise, usually at least 2 or 3 hours. Find out when inspection starts and make sure to attend! Never attend an auction if you can’t make the inspection, not unless your prepared to gamble. Most auctioneers sell at a rate of about 100 items per hour, which is why they sell “as is”. They simply don’t have the time to give a detailed description of all the items. Since almost all items at auction are sold AS IS, there are sure to be some damaged, refinished, fake and incomplete items at any given auction. Beware of any auctions that offer very little or no inspection time.

Good auctions will usually have 150 to 400 lots. A lot may be one item or a group of items. The exception to this are specialty auctions, auto auctions, real estate auctions etc.

When you attend your first sale, take note of the 1/2 dozen or so dealers that buy the most often. See if you can find out about other area auctions they attend.

When you do find an excellent auction, attend it as often as possible. By frequenting good sales, you help increase the bottom line of that business. It’s difficult for many auctioneers to keep the quality of merchandise consistent, so good attendance certainly helps. And when an auctioneer gets to know you as a buyer, he/she will go out of the way to accommodate you, to keep you coming back.

New Generation Deserves Free Education to Save Planet

If one considers all of the problems facing the environment and society in general, he or she knows that qualified, educated individuals are likely to be the ones who will find effective solutions. It is highly unlikely that the Baby Boomer Generation or Generation X will have resolved the issues of climate change, the economy, and international relations within the next twenty years. It is more likely that it will take humankind several generations to repair the damage done by the greediness of some big corporations and by the production of goods that are unfriendly to the environment. Furthermore, prevention will be necessary to ensure that disasters do not occur and that larger nations get along. For all of these reasons, young people deserve to receive free, quality education that meets both their personal needs and those of society. Their education would not only meet the needs of business, but it might meet a greater need to save the planet. Without such quality education at schools (both online and brick-and-mortar schools), future generations will have to suffer due to the unintentional–albeit careless–mistakes of their forefathers.

Young people need education in order to ensure that the infrastructure of their country is in excellent condition. Without it, they will be unprepared to maintain bridges, highways, and public property. For example, on the 14th of August 2018, the Morandi Bridge abruptly fell in Genova, Italy, just one day before the Italian summer vacation known as “Ferragosto”. One cannot help but suspect that such a disaster could have been prevented if there had been knowledgeable experts to control the quality of the bridge. Therefore, well-educated individuals are needed to pick up the pieces of the bridge and to ensure that future structures will be safe and secure.

In the second place, many world citizens have forgotten that a few generations ago people died from contagious diseases. All one has to do is to look at genealogy records to discover that it was common to lose parents, children, and family members to diseases like the Spanish Flu in 1918 and Smallpox, which was eradicated by 1980. People have neglected to study the history of immunization. Educated scientists need to be cultivated so as to investigate the effectiveness of the various vaccines while developing superior cures that can be used in the future. More importantly, young experts will be armed to fight any diseases that might appear in the future.

In the meantime, most people have given some thought to global warming. Those who believe in its existence fear for the future of their children and grandchildren. Without having received a satisfactory science education, people of all ages feel like their hands are tied. Many do not know how little changes can improve the climate. Moreover, they would like to convince people who are in powerful positions to change production techniques to protect the earth. In the event change does not come about, young people desire to enhance their communication skills in order to bring about a radical shift. Unfortunately, many potential defenders of nature cannot even afford to pay for university degrees that would enable them to argue a convincing case in a court of law.

Notably, many occupations have disappeared as they have been taken over by robots, artificial intelligence, and other digital tools. This means that great minds are in demand to determine how the future economy will be structured in order to provide food, shelter, and comfort to those people who work fewer hours or who cannot find a position. Experts will be needed to help organize schedules that involve individuals in pleasurable, humanitarian causes as well as artistic and leisure activities. Perhaps lifelong learning will take on greater importance and people will become more altruistic.

Last but not least, there remains much to be done in space and in the ocean. Naturally, young people need opportunities to study fields such as oceanology, astronomy, and biology without having to become overburdened with debt. Sea life remains to be saved and protected from water pollution while space junk needs to be overseen carefully. Natural resources need to be protected while various species of animals must be cared for, even reintroduced into the environment.

Many people argue that students will not appreciate education if they do not have to pay a lot of money for it. Such individuals insist that students will waste precious resources. Fortunately, some universities and even nations like Germany have demonstrated that free education or very inexpensive education can and does produce effective results. Germany (2018) offers to educate anyone who is accepted in their universities, but it should not be necessary for everyone to move to Germany to receive this benefit when many need and want to continue working in their home countries while studying. Nonetheless, people tend to earn considerably less money today than they did back in the 1960s if one takes inflation in to account; therefore, families with two working parents cannot typically afford to pay for their children’s college degrees, even when they would like to do so.

The unexplored, unread future remains a mystery to be revealed. Thus, it is possible that hard-working young people, well-equipped with quality education, will be the problem-solvers and geniuses of the future. Such great minds need not be wasted when young adults do sincerely wish to contribute to the greater good. They will turn the keys to the not-so-distant future once provided with the education they deserve, regardless of their religion, social status, creed, color, gender, or nationality. Students might communicate internationally in English given that they receive the necessary tools and ability to communicate their ideas. Moreover, students could enhance the universe with the creation of sleek electric cars that are eco-friendly, with the invention of useful tools, with the understanding that universal compassion defeats war, and with the possession of new scholarly insight. So much remains to be discovered by a well-educated society of young people who communicate freely and openly–optimistically desirous of learning. Making learning free for all benefits everyone no matter how young or old since it will generate new solutions to problems that haven’t been solved in the past.

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Differences in the Types of Auctions That Take Place Around the World

How to Find Great Live Auctions for Resale Items

New Generation Deserves Free Education to Save Planet