Auctioneering Auctioneering An Art sale is the practice of selling objects of art by auction. ...more on Wikipedia about "Art sale"
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. In some cases, there is a minimum 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 still owes a fee to the auctioneer). In the context of auctions, a bid is an offered price. ...more on Wikipedia about "Auction"
An auction catalog is a catalog that lists items to be sold at an auction. Auction catalogs for rare and expensive items, such as art, jewelry, postage stamps, and antique furniture, are of interest in and of themselves, for they will frequently include detailed descriptions of the items, their provenance, historical significance, photographs, and so forth. In some cases, auction catalogs are key documentation for rare objects that are in private collections, and make up an important part of the libraries of students and dealers of the rarities. ...more on Wikipedia about "Auction catalog"
In an auction, bid shading describes the practice of a bidder placing a bid that is below what they believe a good is worth. ...more on Wikipedia about "Bid shading"
A box social is a form of fundraiser, wherein donated lunch boxes are auctioned off for some cause (usually charity or raising money), or, alternatively, a woman creates a lunch, which is then auctioned off. Varying depending on the customs, the woman would often go on a date with the person who won the lunch they had prepared. The term originated in the early 20th century, when such boxes were more common in workplace settings. ...more on Wikipedia about "Box social"
A Chinese auction is a type of auction (actually a combination of auction and raffle) that is typically featured at charity or other fundraising events. ...more on Wikipedia about "Chinese auction"
Conrad R. Burns (born January 25, 1935) is a Republican United States Senator from Montana. ...more on Wikipedia about "Conrad Burns" I wish I had a http://www.shortopedia.com. Auctioneering
Dutch auction is a type of an auction where the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the auctioneer's price, or a predetermined minimum price is reached. That participant pays the last announced price. This type of auction is convenient when it is important to auction goods quickly, since a sale never requires more than one bid. The Dutch auction is named for its best known example, the Dutch tulip auctions; in the Netherlands this type of auction is actually known as a "Chinese auction". "Dutch auction" is also sometimes used to describe online auctions where several identical goods are sold simultaneously to an equal number of high bidders. Economists call the latter auction a multi-unit English ascending auction ...more on Wikipedia about "Dutch auction"
In an English auction (also called an Open-outcry auction), the auctioneer begins the auction with the reserve price (lowest acceptable price) and then takes larger and larger bids from the customers until no one will increase the bid. The item is then sold to the highest bidder. ...more on Wikipedia about "English auction"
An estate sale is a type of garage sale, yard sale or auction to dispose of the majority of the materials owned by a deceased person. Estate sales are usually conducted, for a percentage of the take, by specialists. This is because the scope of the process is usually overwhelming to the survivors, and for the specialist's experience with pricing antique items, his or her following of customers, and the specialist's experience in disposing of unsold goods in an unsentimental manner after the run of the sale. Antique and collectible dealers use estate sales as one of their more important wholesale sources, and many estate sales have their first day reserved for dealers. Estate sales are typically 3 to 4 days long, often with a price reduction toward the end. Unknowingly to the shopper, estate sales can be salted with goods left over from other sales or business ventures of the sale's conductor. ...more on Wikipedia about "Estate sale"
Japanese Auction is similar to English auction, the main difference being that each bidder has to bid at each level to remain in the auction. The auction continues until only one bidder remains. ...more on Wikipedia about "Japanese auction"
NYOP is an acronym for "Name-Your-Own-Price", a system where a buyer specifies a price and a product and/or service, and asks sellers to match that combination. A special type of reverse auction. Originally pioneered on the Internet by priceline. ...more on Wikipedia about "NYOP"
Request For Proposal (referred to as RFP and also known as Request For Quotation or RFQ) is a business term referring to a request for quotations, through a tender process, on a specific product or service. ...more on Wikipedia about "Request For Proposal"
A reverse auction (sometimes called a procurement auction or tender) is a type of auction in which the role of the buyer and seller are reversed. In a more typical auction, the seller puts up an item for sale, multiple buyers bid for the item and depending on the nature of the auction (English or Dutch), and one or more of the highest bidders buy the goods at a price determined by the bidding. ...more on Wikipedia about "Reverse auction"
Public Tenders are special procedures to award works contracts, supply contracts or service contracts. ...more on Wikipedia about "Tenders"
A Vickrey auction is a type of sealed-bid auction, where bidders submit written bids without knowing the bid of the other people in the auction. The highest bidder wins, but the price paid is the second highest bid. The auction was created by William Vickrey. This type of auction is strategically similar to an English auction, and gives bidders an incentive to bid their true value. ...more on Wikipedia about "Vickrey auction"
The Winner's curse is a phenomenon akin to a Pyrrhic victory that occurs in common value auctions with incomplete information. In such an auction, the goods being sold have a similar value for all bidders, but players are uncertain of this value when they bid. Each player independently estimates the value of the good before bidding. ...more on Wikipedia about "Winner's curse"
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