Gourt > Regional > Oceania > Australia > Business and Economy > Shopping > Auctions (2)
An auction is the process of buying and selling things by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction is a method for determining the value of a commodity that has an undetermined or variable price. Auctions can be with reserve or minimum, or without minimums, or absolute or no reserve. In reserve auctions, there is a minimum bid or reserve price; if the bidding does not reach the minimum, there is no sale (but the person who puts the item up for auction may still owe a fee to the auctioneer or auction company). In absolute or no reserve auctions, the sale is guaranteed, with only the price left to be determined. In the context of auctions, a bid is an offered price.
Auctions are publicly seen in several contexts and almost anything can be sold at auction. Some typical auction arenas include the following:
- the antique business, where besides being an opportunity for trade they also serve as social occasions and entertainment
- in the sale of collectibles such as stamps, coins, classic cars (by Kruse International for example), fine art, and luxury real estate
- in the sale of all types of real property including residential and commercial real estate, farms, vacant lots and land
- for the sale of second-hand goods of all kinds, particularly house clearances and online auctions
- in commodities auctions, like the fish wholesale auctions
- in thoroughbred horseracing, where yearling horses are commonly auctioned off; and
- in legal contexts where forced auctions occur, as when one's farm or house is sold at auction on the courthouse steps.
Although less publicly visible, the most economically important auctions are the commodities auctions in which the bidders are businesses even up to corporation level. Examples of this type of auction include:
- sales of businesses
- spectrum auctions, in which companies purchase licenses to use portions of the electromagnetic spectrum for communications (for cell phone networks, for example)
- timber auctions, in which companies purchase licenses to log on government land
- electricity auctions, in which large-scale generators and consumers of electricity bid on generating contracts
- environmental auctions, in which companies bid for licenses to avoid being required to decrease their environmental impact
- debt auctions, in which governments sell debt instruments, such as bonds, to investors. The auction is usually sealed and the uniform price paid by the investors is typically the best non-winning bid. In most cases, investors can also place so called non-competitive bids which indicates an interest to purchase the debt instrument at the resulting price, whatever it may be.
Valuers - Auctioneers of industrial plant and equipment, based in Melbourne. Catalogues are available online.
Meta Description: [ Taylor's Auctioneers and Valuers ]
Aussie Bids - Online auction site with stores, forum, tips and showcase.
Meta Description: [ AussieBids.com online auctions for computers, computer games, electronics, antiques, carltonware, carnival glass, collectables, collectibles, art, art glass, books, ceramics, china, clarice cliff, doulton, glass, ivory, pottery, clothing, bears, dolls, home, garden, Jewelry, jewellery, gemstones,... ]
Big Deals - Auction site. Various categories available to search through.
Meta Description: [ Bigdeals, Australia's favourite online auction site, great bargains in clothing, computers, crafts, books, health care, DVD's, music, toys, tools, gifts, outdoor, leisure, apparel, electronics, sporting goods, video games, jewellery and more. Buy,sell and swap at Bigdeals, the number one online ... ]
Dandenong Auctions - Computers, Victoria Police, home maker, motorcycles, mostly auctioned from rooms in Dandenong Victoria. Catalogues available online; also beginning to conduct online auctions.
Meta Description: [ ,Mambo - the dynamic portal engine and content management system ]
Ebay - Auctions in Australia.
Meta Description: [ Visit eBay, Australia's online marketplace for cars, clothing, electronics, digital cameras, sports, DVDs, toys and more. Buy and sell almost anything on eBay Australia now. ]
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Emmx Auctions - Australian auction site providing online auctions and stores.
Fowles Auction Group - Automotive auctioneer selling cars, trucks, plant, earth moving equipment, machinery and damaged vehicles with catalogues for all locations available online.
Meta Description: [ Fowles Auction Group is Australasia's largest automotive auctioneer. Fowles sell mobile cars, trucks, plant, earthmoving equipment, plant, machinery and damaged vehicles including government. ]
Gray Eisdell Matthews - Conduct traditional and online auctions of industrial, domestic, and technology items, including online auctions of late model Dell equipment.
Meta Description: [ Online and traditional auctions on a wide range of consumer, industrial and commercial goods. Bid on product direct from manufacturers for home electronics, computers and IT, wine, perfume and more. ]
Pickles Auctions - Government, fleet, and damaged vehicles, trucks and plant, and general goods sales. Service details, locations, FAQs, contact details, and general buying and selling information included.
Meta Description: [ Car Auctions, Auto Auctions, Online Car Auctions. Pickles Auctions is an Australian owned Auction company, specialising in auto vehicle, truck and car auctions. Online car and truck auctions are also available through the website. ]
The Hymans Group - Australian company conducting public sales and auctions of electronic and other equipment, and offering asset management consulting services.
| size of a 1889 USA penny. most of the pin here came from disney auctions as i really only like the rare pins. 100 or less ... | |
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