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An auction cancellation hunter (German: Abbruchjäger) is a person who uses German law to their advantage by participating in online auctions in Germany, only bidding minimal amounts and expecting the auctions to be cancelled. If an auction is cancelled by the seller, they will claim for damages in the amount of the difference between the ...
A mock auction is a scam usually operated in a street market, disposal sale or similar environment, where cheap and low quality goods are sold at high prices by a team of confidence tricksters. History
A Vickrey–Clarke–Groves (VCG) auction is a type of sealed-bid auction of multiple items. Bidders submit bids that report their valuations for the items, without knowing the bids of the other bidders.
The company offered Pizza Hut discount coupons to the bidders. Although customers received an item of value, the bids were sent for the purpose of winning a car, and the refund was not identical to what had been offered, the auction was held to be a lottery. Other auction models offer rewards points, discounts and other bonuses.
Auction sniping (also called bid sniping) is the practice, in a timed online auction, of placing a bid likely to exceed the current highest bid (which may be hidden) as late as possible—usually seconds before the end of the auction—giving other bidders no time to outbid the sniper.
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Winning or losing changes their volume discount, rebates and incentives with key suppliers, Losing requires laying off personnel with its associated termination costs, Winning opens a new account more inexpensively than hiring a sales representative. Based on this analysis, the supplier should choose his goals for the auction.
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