This is the practice, especially by high-end art auctioneers, of raising false bids at crucial times in the bidding in order to create the appearance of greater demand or to extend bidding momentum for a work on offer. To call out these nonexistent bids auctioneers might fix their gaze at a point in the auction room that is difficult for the audience to pin down. The practice is frowned upon in the industry. In the United States, chandelier bidding is not illegal. In fact, an auctioneer may bid up the price of an item to the reserve price, which is an unstated amount the consignor will not sell the item for. However, the auction house is required to disclose this information.
At Capital Auto Auction, we buy, sell and accept donations of used vehicles of various kinds. Whether it's for cars, boats or fleets of vehicles, we make it our goal to work out arrangements that satisfy both buyers and sellers. Our live auctions take place in four locations: Manchester, New Hampshire; Philadelphia, Pennsylvania; Temple Hills, Maryland; and Washington, DC. Our online auctions make it possible for you to bid on cars from your computer or smartphone. Also, in addition to hosting weekly auctions, we accept vehicles on consignments, doing all the advertising and networking to help you get a car sold.
To bid, you'll mostly need to go to an auction house on the day and bid in person. However, some auction houses now offer live internet or telephone bidding. You'll have to register to bid with the auction house, whether you're bidding in person or not. You should be able to find out when the next police auction will be held by visiting the auction house's website.
The State of Georgia primarily offers surplus state property to the public through internet auction providers. Click on the square below to see property that is currently being offered on each site. To place bids on these auction sites, you must first set up a user account. To set up a user account, click on the desired auction site under Areas of Focus and follow the sites' instructions.
No-reserve auction (NR), also known as an absolute auction, is an auction in which the item for sale will be sold regardless of price. From the seller's perspective, advertising an auction as having no reserve price can be desirable because it potentially attracts a greater number of bidders due to the possibility of a bargain. If more bidders attend the auction, a higher price might ultimately be achieved because of heightened competition from bidders. This contrasts with a reserve auction, where the item for sale may not be sold if the final bid is not high enough to satisfy the seller. In practice, an auction advertised as "absolute" or "no-reserve" may nonetheless still not sell to the highest bidder on the day, for example, if the seller withdraws the item from the auction or extends the auction period indefinitely, although these practices may be restricted by law in some jurisdictions or under the terms of sale available from the auctioneer.
Depending on the agency, the government may use revenue from auctioned items to support crime-prevention programs, pay restitution to crime victims or purchase new equipment the department needs. "By providing agencies with the ability to dispose of excess assets, GSA benefits taxpayers by eliminating the need to maintain and store the unneeded property while also raising more than $300 million in revenue in just the last two years," a GSA spokesperson said.
GAUK Police Auctions & Sales category lists everything you need in an easy to read page outlining all the details of Police Auctions within the UK. In an attempt to stop the lost and found departments becoming crammed and to reduce the number of items stored in the Police Property Store UK police forces sell consignments of stolen and recovered and seized goods through a Police Auction. These sales include vehicles, bicycles, clothing, electronics, furniture and many other items, which end up in the police property room.
English auction, also known as an open ascending price auction. This type of auction is arguably the most common form of auction in use today. Participants bid openly against one another, with each subsequent bid required to be higher than the previous bid. An auctioneer may announce prices, bidders may call out their bids themselves (or have a proxy call out a bid on their behalf), or bids may be submitted electronically with the highest current bid publicly displayed. In some cases a maximum bid might be left with the auctioneer, who may bid on behalf of the bidder according to the bidder's instructions. The auction ends when no participant is willing to bid further, at which point the highest bidder pays their bid. Alternatively, if the seller has set a minimum sale price in advance (the 'reserve' price) and the final bid does not reach that price the item remains unsold. Sometimes the auctioneer sets a minimum amount by which the next bid must exceed the current highest bid. The most significant distinguishing factor of this auction type is that the current highest bid is always available to potential bidders. The English auction is commonly used for selling goods, most prominently antiques and artwork, but also secondhand goods and real estate.
Reverse auction is a type of auction in which the roles of the buyer and the seller are reversed, with the primary objective to drive purchase prices downward. While ordinary auctions provide suppliers the opportunity to find the best price among interested buyers, reverse auctions give buyers a chance to find the lowest-price supplier. During a reverse auction, suppliers may submit multiple offers, usually as a response to competing suppliers’ offers, bidding down the price of a good or service to the lowest price they are willing to receive. By revealing the competing bids in real time to every participating supplier, reverse auctions promote “information transparency”. This, coupled with the dynamic bidding process, improves the chances of reaching the fair market value of the item.
Removal of all items shall be the sole responsibility of the purchaser. Loading assistance is provided as a courtesy; however, purchaser assumes all risk and responsibility for loading and removal of purchases. Auctioneer reserves the right to require proof of adequate insurance coverage from any purchaser items requiring dismantling, rigging or hot cutting. Purchaser agrees to indemnify and save harmless both, consignor and Auctioneer, its officers, directors, employees, agents, and attorneys against any damage caused by the acts of purchaser. All items must be removed from the auction facility within 2 days after the auction date. If for any reason purchaser fails to remove any purchase within the time specified, the purchase shall be deemed abandoned, and Auctioneer at its sole discretion may resell the items. Purchaser shall be liable for any rent incurred or damages suffered by Auctioneer because of purchaser’s failure to remove any item. Failure to remove items will result in a rental / storage fee of not less than $25 per item per day.
At times, customs may decide to not only seize goods but detain the passenger as well. This can happen for a number of different reasons. One reason is if, as mentioned above, a passenger has not declared the item(s) or if they have been declared falsely. Another reason would be if an individual carried with them over 200 grams of tobacco or a very large amount of alcohol.