The most of you already know about what the actions are, but for those who don’t know, here you can find some auction information.For on-line auctions, there are few types like: standard auction, preserved price auction, selling auction, dutch auction, open auction.
What is an auction?
Auctions are organized activities, having the purpose of an easy selling, including two parts on the market. One of them (seller or buyer) established a starting price and the others participants are trying to offer a higher price. The auction winner is he who offered the highest price or an equal one with the preserved price by the bidder.
Standard auction information
Only one item in a time can be sold and the winner is that buyer who offers the highest price.
Preserved price auction information
Is very similar with standard auction, but the difference is that the price asked by the seller is unknown for the buyers. The winner is the buyer who offers a higher price that the preserved price established by the seller. There is a chance that nobody can win a preserved price auction, when nobody offered a higher price that the preserved price.
Dutch auction information
This is a recommended type of auction for trading more items of the same kind. There can be put on sale a number (quantity) of the same items, for each item being asked the same price. In this kind of auction can be more winners. The winners are the buyers with the biggest bids and the quantities required by them, totaled, are equal with the quantity of items offered by the seller. Ca happen that for the last winner, the quantity of item remained is smaller than the requested one and is called “partial quantity”. The winner has his own right to refuse the partial quantity and in this case, he loose his winner
Read more about this in Part 2!
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