Parent Category: Auctions

Commissioned consignment publicly betrayed the consignment of goods for industry, firm bid by the many customers compete for orders, to no one and then a higher price, finalized, said the transaction. Another said the discounted sell-off; sale: auction. Auction Law of China has confirmed an open, fair, impartial and honest credit must comply with the basic principles for the auction.

Auction, also known as bid, the capitalist system, a trading manner ", which is explained in the 1979 version Cihai separated ten years later a second edition, above, had this to say:" the auction, also known as the bidder, commercial a way of sale of the seller of goods sold to the highest bidder. ", we should say that this is a big step forward, is the result of reform and opening up. Auction is not all handle merchandise out Chai Fangzi season auction, in essence, is a big sale, cheap, we are talking about the auction is a high-end behavior, not price-cutting deal with, the price is not fixed must have two or more buyers, there must be competition, the highest bidder, these three conditions can not be called auction.

England auction (English Auction) auction, Dutch auction (Dutch Auction), England-style combination of the Dutch auction, in addition, American-style auction, the highest price sealed bid auction, sealed bid times at high prices auction, open bid double auctions, sealed bid pairs from the auction and other auction.

England-style
Also known as the ascending price auction "or" low-valuation auction. Is to refer to during the auction, the auctioneer announced that the object of auction from the call price and the lowest rate of increase, bidding people to serve a call price as a starting point, from low to high competing should price the last highest bid by to three times offer no one should be price, ring hammer deal. But the transaction price shall not be less than the reserve price.

Dutch
Also known as the "price auction" or "high valuation of the auction. Refer to during the auction, the auctioneer announced that the auction from the subject of bid and drop, and in turn to bid, first price ring hammer transaction. But the transaction price shall not be less than the reserve price.
 England style with a combination of Dutch auction. Refers to the auction process, the auctioneer announced the starting price and the lowest increase in competing price offered by the bidder, the auctioneer in turn increased the bid, the competition to obtain the highest price. If no offer is changed to the auctioneer in order to reduce the asking price and decline, and in turn bid competition to obtain the first price. But the transaction price shall not be less than the reserve price.

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