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  2. Auction - Wikipedia

    en.wikipedia.org/wiki/Auction

    An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types.

  3. Estate sale - Wikipedia

    en.wikipedia.org/wiki/Estate_sale

    An estate sale or estate liquidation is a sale or auction to dispose of a substantial portion of the materials owned by a person who is recently deceased or who must dispose of their personal property to facilitate a move.

  4. Penny auction (foreclosure) - Wikipedia

    en.wikipedia.org/wiki/Penny_auction_(foreclosure)

    A penny auction is a collective action taken during the auction of a foreclosed property to force the sale of the property at a low price, with the intent of then returning the property to its previous owner.

  5. English auction - Wikipedia

    en.wikipedia.org/wiki/English_auction

    An English auction is an open-outcry ascending dynamic auction. It proceeds as follows. The auctioneer opens the auction by announcing a suggested opening bid, a starting price, or a reserve for the item on sale. Then the auctioneer accepts increasingly higher bids from the floor and sometimes from other sources, for example online or telephone ...

  6. Buyer's premium - Wikipedia

    en.wikipedia.org/wiki/Buyer's_premium

    Major auction houses have levied the buyer's premium for several decades, particularly in fine art auctions, with percentages in the region of 10–30%. [2] In real estate auctions in many European countries, the buyer's premium, if charged at all, is much less (2–2.5%). More recently in the UK, however, repossessed properties have been ...

  7. White elephant sale - Wikipedia

    en.wikipedia.org/wiki/White_elephant_sale

    White elephant sales are often useful to buyers and collectors, because they provide a way to purchase older and harder to find items. In the days before online auction and trading websites, white elephant sales, along with thrift stores, yard sales and pawn shops were popular ways to procure collectibles and odd items not available in retail ...

  8. Online auction - Wikipedia

    en.wikipedia.org/wiki/Online_auction

    An online auction (also electronic auction, e-auction, virtual auction, or eAuction) is an auction held over the internet and accessed by internet connected devices. [ 1 ] [ 2 ] [ 3 ] Similar to in-person auctions, online auctions come in a variety of types , with different bidding and selling rules.

  9. Consignment - Wikipedia

    en.wikipedia.org/wiki/Consignment

    The sales agent is contractually obligated to repay the value of this debt, minus the fee for facilitating the sale, to the supplier when the stock is finally sold. In legal disputes or bankruptcies, the good is the supplier's and not the sales agent's property.