Related topics: mobile

Auction bids decline with intensity of competition: new research

Economists from the University of Sydney and the University of Technology Sydney (UTS) have co-authored a new study that challenges conventional thinking about auctions and is applicable to real-life bidding situations including ...

FCC to hold big 5G auction, spend $20B for rural internet

The U.S. government will hold a massive auction later this year to bolster 5G service , the next generation of mobile networks. President Donald Trump showcased the announcement Friday, declaring that the race to stand up ...

Sotheby's latest auction house to end rhino horn sales

Sotheby's on Saturday became the latest international auction house to end the sale of rhino horn artefacts, withdrawing antique lots from an upcoming event in Hong Kong following an outcry from environmental groups.

Hopper, de Kooning hit new auction records in New York

Paintings by Edward Hopper and Willem de Kooning sold for nearly $92 million and $69 million respectively in New York on Tuesday, setting new world record auction prices for each artist, Christie's said.

Stephen Hawking's wheelchair sells for $393,000 at auction

A wheelchair used by physicist Stephen Hawking has sold at auction for almost 300,000 pounds ($393,000), while a copy of his doctoral thesis fetched almost 585,000 pounds ($767,000), auctioneer Christie's said Thursday.

page 1 from 19

Auction

An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction may refer to any mechanism or set of trading rules for exchange.

There are several variations on the basic auction form, including time limits, minimum or maximum limits on bid prices, and special rules for determining the winning bidder(s) and sale price(s). Participants in an auction may or may not know the identities or actions of other participants. Depending on the auction, bidders may participate in person or remotely through a variety of means, including telephone and the internet. The seller usually pays a commission to the auctioneer or auction company based on a percentage of the final sale price.

This text uses material from Wikipedia, licensed under CC BY-SA