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An auction is the process of buying and selling either goods or services by bid. Auctions have different variables which come into play, such as time limits, minimum / maximum limits on bid prices, and special rules for determining the winning bidders & sales prices.
Participants in an auction may know the identities or actions of other participants, but not always. Some bidders can participate via the phone.
In most auctions, participants bid openly against one another. Each bid is raised by the subsequent bid, determining the value closer each time. An auctioneer usually announces prices and bidders usually call out the bids themselves.
The auction ends when no one is willing to bid further (higher), at which point the highest bidder pays their bid and gets the good or service. Sometimes, however, that is not enough to win the item as the seller might have set a minimum sale price in advance, knows as the "'reserve" price. If the final bid does not reach that price, the item remains unsold.
Please note: We do not sell or rent our lists or contact information (see privacy policy). We review each registration to determine if the profession is compatible with our network. Not all registrations will be accepted. Acceptance is NEVER based on race, gender, religion, family status, or gender preference.
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