Auction is a term that can be used synonymously with auction.
Auction is a term that comes from the Latin expression sub hasta , which means "under the spear." This expression was used since the sale of war booty was announced with a spear.
The auction or auction , currently, is the public sale of goods to the highest bidder . It is common for the auction to be carried out with the intervention of some authority , such as a judge. An auction, on the other hand, is known as the awarding of a contract that is done in the same way (to the highest bidder). In this case, its purpose is usually the granting of a public service or the execution of a public work.
Development of an auction
The logic of the auction involves the setting of a base price that, based on the bidding between interested parties, begins to rise. The auctioned product will finally be given to whoever offers the largest sum of money .
For example: a computer optimized for image design goes up for auction for $500. After several rounds of offers, an interested party indicates that he is willing to pay $1,700. In the event that no person wishes to match or exceed said offer, the auction closes with $1,700 as the winning bid .
There are auctions that are carried out in a sealed bid , where there is no possibility of exceeding the highest original bid. Other types of auctions are carried out in the opposite way: the buyer calls potential sellers and says what he is willing to pay for a certain product or service.
The Internet generated a boom in auctions.
Tips for success
There are many people who take advantage of the possibilities of the auction format to make money; There are cases of teenagers who have started reselling cheap products and have managed to save enough money to buy a house. As often happens when a formula for success is discovered, numerous books have been written that promise to turn their readers into expert auctioneers, capable of getting rich, in some cases, in the short term.
The auction is considered by many to be the fastest method of getting rich on the market, but for it to be effective it is important to learn to recognize the most sought-after products and distinguish those that always leave profits for their sellers . Likewise, one of the main objectives of every auctioneer is to ensure that money flows without interruption month after month, year after year .
Internet auctions
Sales made over the Internet, which already exceed 100 billion dollars for the year, correspond in a large percentage to auctions. Thanks to the success of sites like eBay and craigslist , the lives of millions of people around the world with no experience in this selling method have been changed forever.
The magic of the auction occurs when a product that spent years lost in the depths of a drawer, apparently depreciating and receiving no use whatsoever, becomes a source of income for its owner. Fashion and nostalgia often turn ordinary items into authentic relics , which sell for prices dozens of times higher than the original.
Finally, new auctioneers are often advised to learn to accept that the profits will not always be considerable; Many times, it is necessary to make sales with moderate success, simply to keep one's business moving and not lose validity .