January 22, 2010, Newsletter Issue #166: The Kinds of Auctions

Tip of the Week

There are several different kinds of auctions, that can be divided in to three main categories: public, private, and online. Public auctions usually focus on antiques, art, and collectibles. Public auctions are usually held for horses, livestock, cars, and estates. Auctions at which assets seized by the government are sold are also public auctions. Attending public auctions as a spectator is an excellent way of shopping around for auction prices. Private auctions usually occur between corporations, and the goods auctioned are usually large scale commodities, such as timber, electricity, phone service, and cell phone bandwidth. Private auctions are also held on certain kinds of environmental licensing and on debt. Online auctions sell any number of goods, often the same objects that you would find at public auction.

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