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Chinese auction is a type of the all-pay auction, where the probability of winning depends on the relative size of a participant's bid. [1] The choice of the winner is done by a lottery, whereby the bidders compete for a higher chance of winning. [1] It is also known as penny raffle, chance auction and tricky tray. [2] [3]
[1] [2] [3] It is particularly known for its sale of Chinese calligraphy and ink paintings. [4] [5] First founded in May 1993 by Chen Dongsheng, [6] China Guardian is China's oldest art-auction firm. [5] [7] China Guardian was a leader of the Chinese art auction market until the emergence of Beijing Poly International Auction Co Ltd in the mid ...
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Dutch auction also known as an open descending price auction. [1] In the traditional Dutch auction the auctioneer begins with a high asking price for some quantity of like items; the price is lowered until a participant is willing to accept the auctioneer's price for some quantity of the goods in the lot or until the seller's reserve price is ...
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This European influence is particularly marked in the case of beer, whose modern Chinese name pijiu is a Qing-era transcription of the English beer and German Bier. Two of the principal brewers in modern China, Tsingtao and Harbin , are named for the sites of the former major German and Russian breweries.
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This article originally appeared on Nashville Tennessean: Market basket: Homemade mac and cheese brings the memories along with the yum. Related articles. AOL. The 15 best subscription gifts of ...