Archive for October 15th, 2008
Types of Auctions
Posted by: suzanne rendall on: October 15, 2008
English Auction: This type of auction is used at English auction houses like Phillips, Sotheby’s, and Christie’s. The process starts when the auctioneer announces the item and the minimum bid. Individuals openly try to outbid each other wherein each bid is higher than the previous one. The item is sold when the ‘buy-out’ price is [...]
