Paintings on auction are big business. At least if you’ve made legendary painting and are referred to as Pablo Picasso. His latest painting, “Nude, Green Leaves and Bust” sold for a new auction world record; $US 106.5. No other painting or work of art at auction have ever sold for such a sum. The auction started with 10
Read More >>
The first penny auction as the author heard of from a government is now official, Penny Worley Auctioneers.
As usual, the highest bidder wins the penny auctions – which however, tend to go for more then pennies.
Some of the things being sold at Penny Worley are computers, office furniture, chairs, art and various kind of IT equipment. The auction is open to the public and bidding ends the 28th of March. In order to bid, you must register first.
Note: Penny Worley Auctioneers are reputable auctioneers, member of organizations such as National Auctioneers Association and Ohio Auctioneers Association.
When talking about auctions, the first thing that comes to mind is either art works that are auctioned off at Christie’s, for example or farm animals during country fairs. An auction is a process of selling off goods and properties to prospective buyers who outbid each other. The one who offers the highest price gets the item. But did you know that the first “items” held for bidding were women as “brides”?
The first recorded auctions were as early as 500 B.C. when annual auctions were held in Babylon where women were auctioned off for marriage. For many cases, beauty is related to the “true value” so the least comely maidens have to pay a dowry to be “bought”. It was said that it was illegal to sell daughters off outside of the auction process.
By the rise of the Roman Empire, the auction process had become more organized and more refined. Auctions were held at the ‘Atrium’ where soldiers sold the so-called ‘spoils of war’ and the proceeds of the sale went towards the war effort. The Romans also used auctions to liquidate personal property like heirlooms and furniture to pay off debt. However, it wasn’t until the 15th century when formal auction laws and auction licenses were instituted by King Henry VII of England. Auctions were held in taverns and coffee houses by the 17th century where art and other collectible items were sold. Land-related sales appeared in the London Evening Post by the year 1739. Later, the firms Sotheby’s and Christie’s were founded in 1744 and 1766, respectively.
Soon after the colonization of America, necessities like furs, wooden boards, tobacco and corn were sold through the auction. As the country further progressed, settlers on the western frontier bought and sold their land, crops, animals, lumber and even slaves through auctions.
These days, auctions are generally accepted venues where bidders can equally compete and act on their own interest. Cars, farm equipment, industrial or commercial facilities can now all go through auction where the so-called “true market value” of things are established.
Today Bid On Cash goes live. Its a completely knew concept. At BidOnCash.com you bid on cash, in other words, its cash auctions.
It can be hard to understand how its works, but here is a picture, which will make you understand the concept.
Would you like to read about
auction sites (good or bad ones?)
bad or good sellers on ebay and other auction sites
anything else?
Leave a comment with you opinion.