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In June 2020 Bid4Assets conducted Utah's first internet-based tax sale for Iron County, Utah. All 135 properties either received a bid or were redeemed for payment of taxes. [15] In October 2020, Bid4Assets pioneered Pennsylvania's first internet-based sheriff sale for Montgomery County, Pennsylvania. Montgomery County's sheriff was quoted as ...
Bidders submit written bids without knowing the bid of the other people in the auction. The highest bidder wins but the price paid is the second-highest bid. This type of auction is strategically similar to an English auction and gives bidders an incentive to bid their true value. The auction was first described academically by Columbia ...
Timothy Mansfield DeChristopher (born November 18, 1981) is an American climate activist and co-founder of the environmental group Peaceful Uprising. In December 2008, he protested a Bureau of Land Management (BLM) oil and gas lease auction of 116 parcels of public land in Utah's redrock country by successfully bidding on 14 parcels of land (totaling 22,500 acres) for $1.8 million with no ...
The set went on to sell for over $8 million at a Sotheby’s auction in early 2024, smashing records for the most expensive sneakers ever sold in history. 2. Michael Jordan’s 1998 NBA Finals ...
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 auction system assigns the items in a socially optimal manner: it charges each individual the harm they cause to other bidders. [1]
This is a hidden or proxy bid, known to the system, but not any other bidders; during the auction the actual bid is incremented only enough to beat the existing highest bid. For example, if an item's current maximum high bid is 57 and someone is prepared to pay 100 and bids accordingly, the displayed bid will be 58, with the hidden maximum of 100.
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