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Surplus Record is a business directory of surplus, new, and used machine tools, machinery, and industrial equipment in the United States. It was founded in 1924 by Thomas P. Scanlan. The monthly directory, which is hundreds of pages long, has been referred to as "the bible of the used and surplus capital equipment industry". [1]
The brothers began conducting auctions more regularly and in 1958 incorporated Ritchie Bros. Auction Galleries Ltd. to formalize their new business. [4]: 17 Ritchie Bros. began selling used equipment in the 1960s. In 1963 Dave Ritchie moved to Vancouver, B.C. and rented an auction site on S.E. Marine Drive. He set up the company's first ...
Openn Negotiation is the primary product offering and sales process – it combines the flexibility of a private treaty with the transparency of auction price discovery. [ 10 ] Functionally, the Openn platform provides agents with a tool to facilitate real time communication and negotiation between all stakeholders in a property transaction.
For business auctions, the term refers to a specific type of auction process (also called e-auction, sourcing event, e-sourcing or eRA, eRFP, e-RFO, e-procurement, B2B Auction). Open procurement processes, which are a form of reverse auction, have been commonly used in government procurement and in the private sector in many countries for many ...
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The largest consumer-to-consumer online auction site is eBay, which researchers suggest is popular because it is a convenient, efficient, and effective method for buying and selling goods. [ 6 ] Despite the benefits of online auctions, the anonymity of the internet, the large market, and the ease of access makes online auction fraud easier than ...
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