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The silent auction is a variant of the English auction in which bids are written on a sheet of paper. ... bid sheets usually have a fixed starting amount ...
Afterwards, bid cards are finalised, and finally, people actually swap their goods with others and clear up the room. [3] If a food swap event last two hours, the timetable may be as follows: During the first 30 minutes people sign-in, set-up, and greetings go on. Swappers fill out name tags and swap sheets and set up their wares on the tables.
Dial-type silent auction was also invented by the Dutch and is a modern form of reduced-price auction. That is to say, the auctioneer first announces the highest price in public, which is displayed on the corresponding scale on the electronic auction clock, and then the bidder presses the button to bid one by one.
Bidding box for contract bridge. A bidding box is a device used for bidding in bridge, usually in duplicate bridge competitions. Made in various configurations and sizes, it is typically a plastic box with two holding slots, each containing a set of bidding cards: one with 35 cards with symbols of bids, and the other with cards for other calls (pass, double, etc.).
If someone else has placed a bid that is higher than the maximum bid, the will be notified, allowing he to change the maximum bid and stay in the auction. At the end of the auction, whoever's maximum bid is the most wins the lot. Live bidding is a traditional room-based auction.
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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]
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