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Collectors Weekly is an online resource for people interested in antiques, collectibles, and vintage items. The site pairs live auctions with original content, which ranges from encyclopedic essays to multi-sourced articles that aim to illuminate the cultural history of objects.
Each of the bids increases the price of the item by a small amount, such as one penny (0.01 USD, 1¢, or 0.01 GBP, 1p; hence the name of the auction), and extends the time of the auction by a few seconds. Bid prices vary by site and quantity purchased at a time, but generally cost 10–150 times the price of the bidding increment.
A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction. [1] 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 that was submitted. [2]: p2 [3]
A reverse price auction is not necessarily 'descending-price' — the reverse Dutch auction is an ascending-price auction because forward Dutch auctions are descending. [42] By revealing the competing bids in real-time to every participating supplier, reverse auctions promote "information transparency".
Leffler won the 1973 TAA Formula Ford Driver to Europe Series driving a Bowin P4a and a Bowin P6F (pictured) Leffler, pictured on the right with Allan Grice, in 1978 Bowin P8, driven by John Leffler John William Myall Leffler (27 May 1940 – 11 June 2021) [ 1 ] was an Australian racing driver. [ 2 ]
He raced in the 1980-1983 seasons, with 13 career starts, including the 1980 Indianapolis 500.He finished in the top ten twice, with his best finish in 6th position in 1982 at Riverside.
Online auctions often use an equivalent version of Vickrey's second-price auction wherein bidders provide proxy bids for items. A proxy bid is an amount an individual values some item at. The online auction house will bid up the price of the item until the proxy bid for the winner is at the top.
He would then run a limited schedule in 2007 and 2008, then drive full-time Hendrick Motorsports between 2009 and 2011, picking up an additional 5 wins with the team, and then finally run part-time again before officially retiring at the end of the 2013 season.