Posted by Robb Briggs on Thursday, September 8, 2011
Auction is a very broad thing. It
covers almost anything available for bidding. Common items available for the
public include appliances, jewelries, furniture. Specific selections for
specific individuals may also be available in certain auction houses. Items
like paintings and other art related stuffs may not be open to the public as
only few individuals are actually fascinated to art stuffs.
The biding starts always with a
certain amount or at times it may even start at zero. Depending on the seller’s
intend price start, bidders may raise the bid to finally get hold of the item.
In some instances, there is a time allotted where bidders get to side if they
want to raise further or surrender t the last bid made by other persons.
For those who are remotely
located where the penny auction has is not accessible, the auction house may adjust
to cater such customers. The customers may join the biding through phone where
staffs of the auction house are available to handle them. At times, proxies are
being sent to the auction house to represent the real participant.
In cases where the penny auction strategy is
held on a website like e-bay or Penny auction sites, the bidder has to compete
with other bidders by putting a certain raise to the value of the item being
displayed.