Difference between revisions of "Auction"
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Latest revision as of 18:50, 24 January 2021
Definition
Auction is a market making process where different parties participating under defined rules in establishing a Price for the exchange of a Good or service via bids.
Variations
- Public versus Private depending on the accesibility to various parties
- Different auction designs depending on the rules of bidding and establishing the winning bid.
- Court Auction (when the auction process is mandatory as the result of Foreclosure or other Enforcement of Collateral