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The different types of online auction is straight auction, reserve auction, Dutch auction, private auction, overstock auction. An English auction on the internet is called as absolute auction, ascending price auction, English auction, forward auction, reserve price auction, standard auction, Yankee auction. A classic Dutch auction is called as Dutch auction, reverse auction, and bidder’s choice.

A sealed bid auction on the internet is called as private auction, sealed bid auction. A Dutch -vickrey auction on the internet is also called as vickrey option. Proxy bidding agents on the internet is called as proxy auction, robo bid. An online auction means buying and selling of products by the process of bidding and then offering the goods to the highest bidder on the internet. There are various types of online auction, the most common being English auction.

In this type of auction, a reserve price is fixed for the goods and the customers offer larger and larger bid. Finally, the product is sold to the highest bidder. Different people offer different bid prices; the bid is completed once the highest bidding is done by a person and no one does bidding after that. After the hammer has been hit no one can bid. In some cases, when the reserve price is not revealed, the bid ends if no one is willing to bid an amount higher than the reserve price.

The traditional method of English auction includes the use of a candle. In this method, the winning bid was that the last one which was offered just before a candle died out. A Dutch auction is a method of selling in which the price is reduced until a buyer is found. For example, the home was offered in a Dutch auction beginning at $150,000. The auctioneer lowered the price gradually in $5,000 increments until a bidder was found willing to pay $120,000. Therefore, the home was sold for $120,000.

After 21 years of traveling the globe selling everything from airplanes to premium internet domain names, I felt it was time to share some of my experiences and insights into the auction world.

Live auctions have been around for thousands of years and is jokingly referred to the “second oldest profession” known to man. It is true that as long as man has traded goods and attempted to establish a fair market value, there have been auctions. Another common saying is that “if it’s sold, it’s sold at auction”. The types of things that are auctioned may surprise you. Did you know that there is a fish auction daily in such places as Boston and Bangor to establish the daily prices? And, every day, antiques and rugs and real estate and livestock is sold at an auction somewhere, all over the world. And, every day, the values of used cars are determined by professional dealer auctions held all over the world, as many as 100 cars per hour sold in each lane by a single auctioneer. 100 cars per hour, per lane, with as many as 16 lanes selling simultaneously, and 100′s of these auctions per day. Now that’s fast and that’s a lot of rolling stock. And, speaking of speed, this is one of the most common misconceptions regarding what an auctioneer does and what an auctioneer is supposed to be doing,…selling fast!?

Hollywood likes to portray the auctioneer as someone who rattles off numbers and words at a rapid-fire pace leaving the crowd and potential buyer scratching their heads in awe. Unfortunately, if an auctioneer is doing this, he is committing a grave injustice to both the buyers and the sellers. I’ll say this very clearly, and often, if the crowd doesn’t understand the numbers they will not bid with confidence and if they aren’t comfortable with the bidding process, the merchandise will not bring the true potential value.

It is true that there are “professional” buyers at many of the dealer auctions and therefore the auctioneer may feel that he can zoom along without problems. My question has always been, what makes someone a “professional” buyer? The fact that they registered as a car dealer at a car auction and were handed a bidder card? How many “professionals” at the dealer-only auction have attended just once or twice and had to learn the hard way that the auctioneer at a car sale doesn’t always say the entire bid amount? That issue is an entire blog session coming in the near future because it is definitely one of my pet peeves and something that I’ve tried hard to change over the years.

Wayne Wheat Is a professional auctioneer who has conducted some of the highest grossing and high-profile auctions in the benefit and fundraising industry since 1990. Wayne is an energetic performer who is comfortable in front of audiences of all sizes and enjoys interacting with bidders. His services include consulting with benefit groups through the auction method to create successful events. On the microphone, the experience and sales ability really makes the difference between an average auction and an exceptional one. Wayne is a two-time World Champion Auctioneer and former President of theTexas Auctioneers Association and Former National Spokesperson for the National Auctioneers Association.

A car auction may possibly take place just anywhere – in any city, town, and even other countries, also. If one takes the United States, for example, approximately each state possesses at least one car auction facility and possibly even more. General public, auto sales dealers and business owners, who are very much interested in purchases of cars, are all constant consumers of the car auctions. There are also special online auto auctions for the ease of the purchaser. Moreover, the types of car auctions are numerous too, for example, such as car salvage auctions, wrecked motorcycle auctions, repairable car auctions, and car parts auctions. In fact, there is a wide net of car auctions all over the USA. And what is more, American car auctions are held nearly each day. So, all individuals and businessmen will agree with the fact that the opportunities to buy vehicles by the use of auctions are multiple.

What is usually auctioned off at the car auction? Individuals can find practically all kinds of vehicles here. Cars are presented here by make, model, and year of production. Their condition may be very different as well – beginning from comparatively new and repossessed cars to wrecked vehicles. Insurance companies, city and state government organizations, and banks and other financial institutions have large possessions of cars for auctioning off. The price of storing these cars is nearly unaffordable; these institutions feel free to put these cars for auctions rather than to go on to lose cash on the storage. In taking part in a car auction, persons do not have to contact with sellers. Nevertheless, the consumers should be ready to check the desired car and set a price which they are able to pay for this car in order to place bids on it and to purchase the car. One more point the consumers should remember, if they are taking up at online auctions, they will be in charge of paying the supplementary transportation fees to ship the vehicles to their locations.

Auto auctions have a long history of existence. They give an option to standard ways of taking up a car. Instead of going to a car dealer and looking and driving a car, the buyer is expected to check the car himself. After that he waits for the auction to begin, and then places his bids on the car. The highest bidder gets the rights for the car and becomes the winner. Modern technology simplified the whole process of purchasing. Auto auctions online might be considered to be one of the most popular and common ways to acquire a car. The vast number of auction vehicles has been tested and are in running condition. Buyers can be assured that they will drive securely after purchasing an online vehicle, from a trustworthy company. The downside of an online auto auction is that a purchaser is not able to see the car in person. There are typically many photos of the car, as well as a good description. The vehicles in the auction have been road tested and mechanically sound to ensure that the customers drive safely, and are pleased with their purchase. Another major ground for choosing an online auction is the diversity of vehicles available. Buyers are able to place bids on cars that are all over the globe, not just in their neighborhood. Individuals can come across just about anything they desire online. The only drawback is that they must have the capability to pick up the car. In some cases the vehicles can be shipped to you locally, making it much easier and more convenient to buy a car on an auction.