A ring can also be used to increase the price of an auction lot, in which the owner of the object being auctioned may increase competition by taking part in the bidding him or herself, but drop out of the bidding just before the final bid. In Britain and many other countries, rings and other forms of bidding on one's own object are illegal. This form of a ring was used as a central plot device in an episode of the British television series Lovejoy (series 4, episode 3), in which the price of a watercolour by the (fictional) Jessie Webb is inflated so that others by the same artist could be sold for more than their purchase price.
The Romans also used auctions to liquidate the assets of debtors whose property had been confiscated.[8] For example, Marcus Aurelius sold household furniture to pay off debts, the sales lasting for months.[9] One of the most significant historical auctions occurred in the year 193 A.D. when the entire Roman Empire was put on the auction block by the Praetorian Guard. On 28 March 193, the Praetorian Guard first killed emperor Pertinax, then offered the empire to the highest bidder. Didius Julianus outbid everyone else for the price of 6,250 drachmas per guard,[citation needed] an act that initiated a brief civil war. Didius was then beheaded two months later when Septimius Severus conquered Rome.[8]

Several different federal agencies hold government auctions. The General Services Administration is the granddaddy of them all, because it sells on behalf of other departments. When a federal agency no longer needs something — say, a pickup truck — it reports the truck to GSA, which first offers it to other federal agencies and then to state and local governments or nonprofits. If nobody claims the truck, then the GSA auctions it off to the public, and you get your chance at it. 


People were on their cellphones taking bids from afar, others were desperately eyeing the cars to see if the panels and bumper covers were in decent enough shape to make some cash at the current bidding price. Though there were only a handful of folks at this little auction, the dynamic—the subtle things people did to make sure they made a sound buying decision—was enthralling.
In some parts of England during the seventeenth and eighteenth centuries auction by candle began to be used for the sale of goods and leaseholds.[10] In a candle auction, the end of the auction was signaled by the expiration of a candle flame, which was intended to ensure that no one could know exactly when the auction would end and make a last-second bid. Sometimes, other unpredictable processes, such as a footrace, were used in place of the expiration of a candle. This type of auction was first mentioned in 1641 in the records of the House of Lords.[11] The practice rapidly became popular, and in 1660 Samuel Pepys's diary recorded two occasions when the Admiralty sold surplus ships "by an inch of candle". Pepys also relates a hint from a highly successful bidder, who had observed that, just before expiring, a candle-wick always flares up slightly: on seeing this, he would shout his final - and winning - bid. The London Gazette began reporting on the auctioning of artwork at the coffeehouses and taverns of London in the late 17th century.

I wasn't aware that the TSA sold all of the stuff it confiscated! That's cheap goods right there! My mom works for a cruise line, and they don't confiscate stuff, but people do tend to forget all kinds of things they bring on the ship, so every once in a while the company has a big flea market available to employees. I find it funny when my mom comes home with watches and bracelets she wouldn't have otherwise bought.
Whenever bidders at an auction are aware of the identity of the other bidders there is a risk that they will form a "ring" or "pool" and thus manipulate the auction result, a practice known as collusion. By agreeing to bid only against outsiders, never against members of the "ring", competition becomes weaker, which may dramatically affect the final price level. After the end of the official auction an unofficial auction may take place among the "ring" members. The difference in price between the two auctions could then be split among the members. This form of a ring was used as a central plot device in the opening episode of the 1979 British television series The House of Caradus, 'For Love or Money', uncovered by Helena Caradus on her return from Paris.
To finance the public debt, the U.S. Treasury sells bills, notes, bonds, Floating Rate Notes (FRNs), and Treasury Inflation-Protected Securities (TIPS) to institutional and individual investors through public auctions. Treasury auctions occur regularly and have a set schedule. There are three steps to an auction: announcement of the auction, bidding, and issuance of the purchased securities.
Buyout auction is an auction with an additional set price (the 'buyout' price) that any bidder can accept at any time during the auction, thereby immediately ending the auction and winning the item.[29] If no bidder chooses to utilize the buyout option before the end of bidding the highest bidder wins and pays their bid.[29] Buyout options can be either temporary or permanent.[29] In a temporary-buyout auction the option to buy out the auction is not available after the first bid is placed.[29] In a permanent-buyout auction the buyout option remains available throughout the entire auction until the close of bidding.[29] The buyout price can either remain the same throughout the entire auction, or vary throughout according to rules or simply as decided by the seller.[29]

I wasn't aware that the TSA sold all of the stuff it confiscated! That's cheap goods right there! My mom works for a cruise line, and they don't confiscate stuff, but people do tend to forget all kinds of things they bring on the ship, so every once in a while the company has a big flea market available to employees. I find it funny when my mom comes home with watches and bracelets she wouldn't have otherwise bought.


Many police forces across the UK sell on loot which they've seized. And because this isn't widely known about – and because the police sell on items they'd otherwise have to store or dispose of – you could bag real bargains. For example, we spotted a kids' bike for 99p (collection only), a classical guitar for £14 (incl delivery) and an Armani watch for £15 (collection only).

Walrasian auction or Walrasian tâtonnement is an auction in which the auctioneer takes bids from both buyers and sellers in a market of multiple goods.[46] The auctioneer progressively either raises or drops the current proposed price depending on the bids of both buyers and sellers, the auction concluding when supply and demand exactly balance.[47] As a high price tends to dampen demand while a low price tends to increase demand, in theory there is a particular price somewhere in the middle where supply and demand will match.[46]

Reserve auction is an auction where the item for sale may not be sold if the final bid is not high enough to satisfy the seller; that is, the seller reserves the right to accept or reject the highest bid.[37] In these cases a set 'reserve' price known to the auctioneer, but not necessarily to the bidders, may have been set, below which the item may not be sold.[36] If the seller announces to the bidders the reserve price, it is a public reserve price auction.[39] In contrast, if the seller does not announce the reserve price before the sale but only after the sale, it is a secret reserve price auction.[40] The reserve price may be fixed or discretionary. In the latter case, the decision to accept a bid is deferred to the auctioneer, who may accept a bid that is marginally below it. A reserve auction is safer for the seller than a no-reserve auction as they are not required to accept a low bid, but this could result in a lower final price if less interest is generated in the sale.[37]
Debt auctions, in which governments sell debt instruments, such as bonds, to investors. The auction is usually sealed and the uniform price paid by the investors is typically the best non-winning bid. In most cases, investors can also place so called non-competitive bids, which indicates an interest to purchase the debt instrument at the resulting price, whatever it may be
You could tell that most people knew each other. It felt like these few dozen bidders were part of an exclusive network of junkyard owners and flip-artists who have been bidding on cars against each other for years. Every now and then, when one guy outbid another, you’d see the losing bidder lean over to a friend and talk shit on the winner. “He just buys cars for the sake of buying them. He probably makes no money,” I heard one guy whisper. Police auctions are full of mysteries and secrets.

Pursuant to the Dallas City Charter, all items that exceed $20,000 threshold requires the City of Dallas, City Council approval and will require the bidder to have a hold place on the item(s) purchased for approximately 6 to 8 weeks prior to delivery (Pending city councils approval). In addition, the City of Dallas reserves the right to reject any and all bids.

A ring can also be used to increase the price of an auction lot, in which the owner of the object being auctioned may increase competition by taking part in the bidding him or herself, but drop out of the bidding just before the final bid. In Britain and many other countries, rings and other forms of bidding on one's own object are illegal. This form of a ring was used as a central plot device in an episode of the British television series Lovejoy (series 4, episode 3), in which the price of a watercolour by the (fictional) Jessie Webb is inflated so that others by the same artist could be sold for more than their purchase price.


Sealed first-price auction or blind auction,[20] also known as a first-price sealed-bid auction (FPSB). In this type of auction all bidders simultaneously submit sealed bids so that no bidder knows the bid of any other participant. The highest bidder pays the price they submitted.[1][2] This type of auction is distinct from the English auction, in that bidders can only submit one bid each. Furthermore, as bidders cannot see the bids of other participants they cannot adjust their own bids accordingly.[2] From the theoretical perspective, this kind of bid process has been argued to be strategically equivalent to the Dutch auction.[21] However, empirical evidence from laboratory experiments has shown that Dutch auctions with high clock speeds yield lower prices than FPSB auctions.[22][23] What are effectively sealed first-price auctions are commonly called tendering for procurement by companies and organisations, particularly for government contracts and auctions for mining leases.[2]
Participants in any Treasury auction consist of small investors and institutional investors who submit bids categorized as either competitive or non-competitive tenders. Non-competitive tenders are submitted by smaller investors who are guaranteed to receive bills, but they won’t know what discount rate they will receive until the auction closes. In effect, these investors receive no guarantee on the price or discount received. An investor who submits a non-competitive bid agrees to accept whatever discount rate is decided at the auction, determined by the competitive side of the auction which is handled as a Dutch auction. The minimum non-competitive tender for a Treasury bill is $10,000. The non-competitive closing time for bills is normally 11:00 a.m. Eastern Time on auction day.
Middleby Marshall Pizza Oven, Southbend 10 Burner Range, Cold Tech Sandwich Prep Table, Delfield Lowboy, Vulcan Steamer, Dixie Vending Machine, Ugolini Dual Slush Machine, Jackson Dishwasher, True 2 Door Beverage Cooler, Vulcan Flat Grill, Imperial Deep Fat Fryer, Elite Deep Fat Fryer, Fine Ceramic Ware, Robot Coupe Immersion Blender, Generac Generator, Champion Generator, True One Door Cooler,   [ View Full Listing ]
The money raised from the sale of ex-Police Cars goes back to the police forces selling them. After the auctioneer fee and decommissioning costs it’s considered to be the most cost effective method open to the police when renewing their fleet. This is all good news for the consumer. If you’re willing to overlook some of the cosmetic scarring that can result from decommissioned Police vehicles then you can drive off having made a tidy saving. GAUK Auctions database lists every auctioneer where you can find police cars.
Silent auction is a variant of the English auction in which bids are written on a sheet of paper. At the predetermined end of the auction, the highest listed bidder wins the item.[43] This auction is often used in charity events, with many items auctioned simultaneously and "closed" at a common finish time.[43][44] The auction is "silent" in that there is no auctioneer selling individual items,[43] the bidders writing their bids on a bidding sheet often left on a table near the item.[45] At charity auctions, bid sheets usually have a fixed starting amount, predetermined bid increments, and a "guaranteed bid" amount which works the same as a "buy now" amount. Other variations of this type of auction may include sealed bids.[43] The highest bidder pays the price he or she submitted.[43]
Police Auctions are a time-proven and established route used by Police forces across the country to dispose of proceeds of crime, lost and found, seized, unclaimed stolen and confiscated property. Police sales are held on a regular basis at auction houses and venues all over the UK. Our comprehensive Police Auction database covers ALL sales going on right now and details hundreds of auction lots every, single day. GAUK Police Auctions section shares with you ‘insider’ information on all the events!
×