Sale of tea in an auction room on a stipulated date at a specific time Tea auctions are held in India, Sri Lanka, Indonesia, Kenya and Malawi - these auctions only sell teas from their particular areas The London Tea Auction, held every Monday morning (barring public or bank holidays) in the City of London is the only true international tea auction, where teas from all over the world are sold
An offering of coins for sale where the buyer must bid against other potential buyers, as opposed to ordering from a catalog, price list, or advertisement at a set price
The selling of real or personal property to the highest bidder by a person licensed and authorized to sell the property The auctioneer is employed by the owner or seller of the property as an agent and normally receives a percentage of the sales price as his or her commission
A sale of stamps, covers and other philatelic items where prospective purchasers place bids in an attempt to obtain the desired items The highest bidder for each lot (described item or items) makes the purchase Auctions are generally divided into mail sales, where bids are accepted by mail, and public sales, where mail bids are combined with live bidding from individuals present at the auction or participating by telephone
sale of something to the highest bidder Used by governments to get the best interest rates when they borrow (known as a T-bill auction) The more bidders there are, the higher the "price" for the bill and therefore the lower the yield or interest rate
An auction is a public sale where goods are sold to the person who offers the highest price. Lord Salisbury bought the picture at auction in London some years ago
A method of selling by which an item is put up "on the auction block" and interested parties "bid" for the item in increasing money amounts until the highest bidder is finally left unchallenged and thus becomes the buyer The item seldom comes with a guarantee to its age, origin or authorship and thus auctions are "buyer beware"
the public sale of something to the highest bidder a variety of bridge in which tricks made in excess of the contract are scored toward game; now generally superseded by contract bridge sell at an auction
Any of several wholesale market mechanisms that settle pricing by bids from participating parties; different sets of rules apply to different types of auctions Note that terminology describing auctions is not always consistent from one industry to another For an excellent description of auctions and the theory they are based on, go to www auctusdev com
Sale of tea in an auction room on a stipulated date at a specific time Tea auctions are held in India, Sri Lanka, Indonesia, Kenya and Malawi- these auctions only sell teas from their particular areas The London Tea Auction, which was held every Monday morning (barring public or bank holidays) in the City of London until it's close in 1998 was the only true international tea auction, where teas from all over the world were sold
If something is auctioned, it is sold in an auction. a public meeting where land, buildings, paintings etc are sold to the person who offers the most money for them at auction (auctio , from augere ( AUGMENT); because the money offered increases). to sell something at an auction. Buying and selling of property through open public bidding. Typically, potential purchasers make a succession of increasing bids or offers until the highest (and final) bid is accepted by the auctioneer. At a so-called Dutch auction, by contrast, the seller offers property at successively lower prices until one of his offers is accepted or until the price drops so low as to force the withdrawal of the offered property. Prospective buyers are usually allowed to examine auction items beforehand, and sellers may set a minimum price below which the property will not be sold. Auctions are important in the agricultural markets of many countries, permitting the rapid sale of perishable goods. Other items often sold at auction include artwork and antiques, secondhand goods, and farms and buildings repossessed by banks or the government. Auctions can be structured in many ways (e.g., bids submitted in person, via telephone, or over the Internet). Auction selling is also employed on stock and commodity exchanges