What is the name of the bidder? Auction – what is it? Instructions for use
An auction is the public sale of goods, securities, enterprise property, works of art and other objects. Such a sale is carried out according to established rules. The main principle of the auction is its competition between buyers. During bidding, buyers compete for the right to purchase goods, offering their prices for the selected product. The criterion for determining the winner is price. As soon as the winner of the competition is determined, the auction item is declared sold.
Auctions have existed since the Roman Empire and were usually held after military victories. The term “auction” itself comes from the English word auctionis, “increase” or “growth”.
What is an English auction
There are eight main types of auctions. Of these, the most common and famous is the English auction. It is also called direct. The principle of this auction is based on establishing a minimum price, the so-called “starting” price. It is the starting point for further trading, during which buyers bargaining among themselves gradually increase it.
All proposals received are publicly announced. The final price is the one formed during the bidding process and which is the maximum offer for the object of bidding.
The duration of a direct auction is fixed or bidding lasts until no new bids are received. However, there is the concept of a reserve price, that is, the minimum cost for which the seller agrees to sell the product. If it remains unachieved during the auction, the product is not sold.
There are two types of English auction - direct and reverse. At a direct auction, prices rise according to the proposal of the auction leader or according to the requests of auction participants. The winner is the buyer who offers the highest price. These auctions typically feature unique items such as used items, collectibles, wines, and more.
In a reverse auction, the starting price is set by the buyer. And it is equal to the maximum price at which he agrees to purchase this product. And in this type of bidding, sellers compete, competing with each other. They make offers to the buyer. In this case, the price goes down, not up. This continues until there is a seller willing to sell his goods at that price.
Sometimes rare items, art and collectibles (such as coins, badges or stamps) can be purchased not only in antique or art stores, but also at auctions.
The word "auction" is of Latin origin and is derived from a word that literally means "to increase."
What is an auction: definition
An auction is a public sale of things, the acquisition of which goes to the one who can pay the highest price for them. In addition to antiques, these can also be goods with special properties and qualities. For example, these are vegetables and fruits, furs and fur goods. Horses may also be offered at auctions. There are also used car auctions. This is not the entire list of goods that can be sold at auction. But when talking about auctions, we should not forget the intangible sphere, which can be represented by various types of assets. For example, these could be stocks, bonds, etc.
The meaning of the auction
The main essence of auctions is the convenience of conducting them for both buyers and sellers. It is expressed in the fact that there is no need to search for active bidders - sellers and buyers. At the auction, here and now, the price and demand for a specific product are formed online. And this price, as a rule, turns out to be the most profitable.
Auction Rules
The auction, as noted, is where the bidding takes place. Thus, an auction is a tool for completing a transaction. And this procedure must be clearly defined and organized according to certain rules. These rules establish the order of the auction (its stages) and the characteristics of behavior at each stage. In the generally accepted classification of stages, there are 4 steps of any auction: preparation, inspection of goods, auction trading, execution of the auction transaction. A special place in the entire procedure is occupied by the third stage - the bidding itself, where by raising the price the auctioneers achieve the sale of the goods.
Types of auctions
There are many reasons for dividing all auctions into groups. Thus, it is possible to distinguish types of auctions only by the goods presented at them. But the classification uses broader categories, such as industries. And in this case, they talk about industry auctions, among which the following can be distinguished: foreign exchange, timber, gold, deposit and others. All types of auctions can be divided into the following types:
- On the initiative - forced and voluntary. Forced auctions are most often carried out when valuables are confiscated from the owner, and voluntary auctions are carried out at personal desire.
- By the number of participants - open and closed. Whether the auction will be open or closed is explained by the fact that everyone or a conditionally limited circle of people will be present at the auction.
auction
Economic dictionary of terms
(from Latin auctio - sale at public auction) auction
a method of selling certain types of goods in the form of a public auction, held in a predetermined place and at a predetermined time with the right of preliminary inspection of the goods. Goods at auction are sold in single samples or in batches (lots) to the buyer who offers the highest price. During the bidding process, the auctioneer (the person conducting the auction) announces to the potential buyers (auctioneers) present about the item being sold and its initial starting price. Then the auctioneers take turns announcing and naming the rising price at which they are willing to buy the item. The bidding continues until the highest price is named. This is an "English" auction. In a Dutch auction, bidding starts at a very high price and proceeds downwards until a buyer is found who is willing to buy at the advertised price. A voluntary auction is held at the initiative of the owner of the goods. Enforcer
Dictionary of financial terms
AUCTION
alternate sale of real goods based on a buyer competition. AUCTIONS are held at permanent or pre-designated locations at a traditional or pre-designated location. International AUCTIONS are usually commercial organizations with premises, equipment and personnel. Trading at AUCTIONS takes place openly with the participation of the buyers themselves. AUCTIONS are also organized by specialized brokerage firms that resell goods on a commission basis on behalf of their clients, sellers and buyers, who do not themselves participate in the AUCTION, but pay a fee to the brokers.
Explanatory Dictionary of the Living Great Russian Language, Dal Vladimir
auction
M. lat. sale at auction, at auction, at auction, at public auction. Auction chamber, the location of this sale. Auctioneer, auctioneer m. official trader when selling under the hammer; auctioneer m. who bargains, adder.
Explanatory dictionary of the Russian language. D.N. Ushakov
auction
auction, m. (Latin auctio, lit. multiplication) (bargaining). Selling something property or goods at public auction, with the property going to the highest bidder. sell at auction (sell for debts through auction).
Explanatory dictionary of the Russian language. S.I.Ozhegov, N.Yu.Shvedova.
auction
A, m. Public sale, in which the buyer becomes the one who offers a higher price. Sell at auction. Buy at auction. Furry a. International a. breeding horses.
adj. auction, oh, oh.
New explanatory dictionary of the Russian language, T. F. Efremova.
auction
m. A method of publicly selling something, in which the buyer becomes the one who offered a higher price.
Encyclopedic Dictionary, 1998
auction
AUCTION (from Latin auctio - sale at public auction) is a method of selling goods in which the goods (or samples of them) are first put up for inspection. In the form of an auction, real estate is also sold, the forced sale of property of insolvent debtors, etc. is carried out. Usually, a starting price is set at an auction.
Large legal dictionary
auction
(from Latin auctio - sale at public auction) - a type of auction in which a contract for the sale and purchase of property is concluded with the person who offers the highest price. An auction sale can be forced or voluntary, organized by the seller himself or carried out through a special organization acting as a commission agent. also Auction trading.
Auction
(from the Latin auctio ≈ sale at public auction), in international trade, a method of selling certain goods (furs, tobacco, tea, etc.) in separate lots, in which the goods (or samples of them) are first put up for inspection by possible buyers. The time and place of the A. will be announced in advance. The general conditions for the sale of goods are determined by the seller. The buyer of the consignment is considered to be the person who offered the highest price during the execution of A. When selling on A., unlike a regular sale, the seller’s liability for the quality of the goods sold is excluded. In the USSR, international exhibitions for the sale of furs are regularly held in Leningrad.
In the form of A. ≈ public auctions ≈ the forced sale of property of insolvent debtors is carried out, goods that are not claimed on time from transport and warehouse enterprises are sold, and in other cases.
V. S. Pozdnyakov.
Wikipedia
Auction
Auction- public sale of goods, securities, enterprise property, works of art and other objects, which is carried out according to pre-established auction rules. The principle common to all auctions is the principle of competition between buyers. In the process of competition between buyers for the right to purchase the goods, the winner of the auction is determined. The winner of the auction is the person who wins the auction in accordance with its rules. In this case, the object is purchased by the auction winner.
Auction (novel)
Novel "Auction" published in 1985. In the world, the arms race between two ideologically opposed camps, led by the USSR and the USA, is reaching its peak.
In the Soviet Union, after a series of deaths of General Secretaries, the party is headed by a relatively young leader, M. S. Gorbachev.
The novel tells that there are powerful forces in the world that prevent the return to their homeland of cultural property stolen by Nazi criminals during the Second World War and taken from the occupied territories.
The memory of the past war is still fresh in society; many veterans are alive who have the opportunity to tell the truth about the atrocities and crimes that the Nazi invaders committed.
AUCTION
AUCTION
(from Latin augere - increase). 1) public sale of things to someone who offers a higher price for them. 2) giving works at public auction to the one whose estimate is the lowest.
Dictionary of foreign words included in the Russian language. - Chudinov A.N., 1910 .
AUCTION
[lat. auctio (auctionis)] - a public sale in which the buyer becomes the one who offers the highest price for what is being sold. See LOT.
Dictionary of foreign words. - Komlev N.G., 2006 .
AUCTION
lat. auctio, onis, from augere. increase. Sale by public auction.
Explanation of 25,000 foreign words that have come into use in the Russian language, with the meaning of their roots. - Mikhelson A.D., 1865 .
AUCTION
sale at public auction of the property of a faulty debtor or tax payer by court verdict, sale under the hammer.
A complete dictionary of foreign words that have come into use in the Russian language. - Popov M., 1907 .
AUCTION
sale at public auction of any property by court verdict with a gradual increase in price by those participating in the auction. If after 3 hammer blows no distance follows. premiums, then the item remains with the one who offered more for it than others.
Dictionary of foreign words included in the Russian language. - Pavlenkov F., 1907 .
Auction
(lat. auctio (auctionis)) a sale at public auction in which the goods or property being sold are purchased by the person who offered the highest price for them.
New dictionary of foreign words. - by EdwART,, 2009 .
Auction
auction, m. [ Latin auctio, lit. multiplication] (bargaining). Selling something property or goods at public auction, with the property going to the highest bidder. Sell at auction.
Large dictionary of foreign words. - Publishing House "IDDK", 2007 .
Auction A, m. (German Auction lat. auctio (auctiōnis) public auction).
A public sale of property in which the highest bidder becomes the buyer. Fur. Sell at auction.
Auctioneer- auction participant.
Auctioneer- the person leading a.
Auction- relating to the auction.
Explanatory dictionary of foreign words by L. P. Krysin. - M: Russian language, 1998 .
Synonyms:
See what "AUCTION" is in other dictionaries:
Alternate sale of real goods based on a competition for buyers. AUCTIONS are held at permanent or pre-designated locations at a traditional or pre-designated location. International AUCTIONS are usually commercial organizations... ... Financial Dictionary
- (from the Latin auctio sale at public auction) a method of selling certain types of goods in the form of a public auction, held in a predetermined place and at a predetermined time with the right of preliminary inspection of goods. Item at auction... ... Economic dictionary
Auction sales, bidding, public bidding; sale, sale under the hammer, sale under the hammer Dictionary of Russian synonyms. auction (public) bidding; sale (or sale) under the hammer (obsolete) Dictionary of synonyms of the Russian language. Practical... ... Synonym dictionary
- (auction) A type of sale of goods when goods are sold to buyers who offer the highest price. Auctions typically sell items for which there are likely to be several competing buyers, such as houses,... Dictionary of business terms
Auction- a sale at public auction, in which the right to purchase the goods or property being sold goes to the economic entity that offers the highest price. Main types of auctions: simple, or English, when publicly announced... ... Economic and mathematical dictionary
- (from the Latin auctio, literally increase, sale at public auction), a method of selling at public auction individually determined goods or lots of goods (lots) previously inspected or tasted by buyers. The product is for sale... Modern encyclopedia
- (Latin auctio from augere to increase) or auction sale is the name given to a public sale with the award of the thing being sold to the one who offers the highest price for it. It is used in cases where it is necessary to immediately sell any goods... Encyclopedia of Brockhaus and Efron
auction- AUCTION, sale, bargaining and bidding, fair... Dictionary-thesaurus of synonyms of Russian speech
Auction- The auction is a good sign. If you hear the voice of an auctioneer calling bids, then you have excellent prospects and success in risky operations. For a businessman, a dream about buying something at an auction foreshadows successful transactions. For… … Large universal dream book
