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Private electronic market. Software. v. t. e. An online auction (also electronic auction, e-auction, virtual auction, or eAuction) is an auction held over the internet and accessed by internet connected devices. [1] [2] [3] Similar to in-person auctions, online auctions come in a variety of types, with different bidding and selling rules. [4]
Ritchie Bros. Auctioneers was established in Kelowna, British Columbia, Canada. A Canadian company which the three Ritchie brothers – Ken, John and Dave Ritchie – took over the OK Used Furniture Store from their father in 1955. They entered the auction business in 1958 when they needed CA$2,000 to pay a bank debt on short notice.
Auction theory is a tool used to inform the design of real-world auctions. Sellers use auction theory to raise higher revenues while allowing buyers to procure at a lower cost. The conference of the price between the buyer and seller is an economic equilibrium.
Heritage Auctions is an American multi-national auction house based in Dallas, Texas. Founded in 1976, Heritage is an auctioneer of numismatic collections, comics , fine art, books, luxury accessories, real estate, and memorabilia from film, music, history, and sports.
Software. v. t. e. A reverse auction (also known as buyer-determined auction or procurement auction) is a type of auction in which the traditional roles of buyer and seller are reversed. [1] Thus, there is one buyer and many potential sellers. In an ordinary auction also known as a forward auction, buyers compete to obtain goods or services by ...
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