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  • Government auctions

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    A government auction is an auction of goods which have been confiscated by various Government bodies and agencies. Government auctions may be found in most countries but can often differ in their format. In certain places, United States for instance, they are held by local departments, and proceeds are retained by the authorities. Generally, these types of auction are open to the public such as the United Kingdom.

  • Estate liquidation

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    An estate liquidation is similar to an estate sale in that the main concern or goal is to liquidate the estate (home, garage, sheds and yard) with an estate sale organization while also often adding the contents of a safe deposit box, family heirlooms too valuable to be left within the constraints of the family home, real estate, cars, boats, and other transportation such as motor homes and RVs, animals, livestock and whatever other assets the estate may encompass. In the United States, while it is necessary in most states that a realtor be present to write up the documents for the sale of real land, most other items do not require any other license or permit other than the local licenses needed to run a business in that city, county or state where the liquidation is taking place. Oftentimes the family will retain a lawyer to oversee the process of liquidation and to keep the system straight on legalities of stocks and bonds being traded, investments liquidated and any real property changing hands legally. Estate liquidations happen mostly like estate sales, with the liquidators making the home and items to be sold ready for a public sale.

  • Auction

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    An auctioneer and her assistants scan the crowd for biddersAn American auctioneer at a livestock auction, November 2010 An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. The open ascending price auction is arguably the most common form of auction in use today. Participants bid openly against one another, with each subsequent bid required to be higher than the previous bid. An auctioneer may announce prices, bidders may call out their bids themselves (or have a proxy call out a bid on their behalf), or bids may be submitted electronically with the highest current bid publicly displayed. In a Dutch auction, the auctioneer begins with a high asking price for some quantity of like items; the price is lowered until a participant is willing to accept the auctioneer's price for some quantity of the goods in the lot or until the seller's reserve price is met. While auctions are most associated in the public imagination with the sale of antiques, paintings, rare collectibles and expensive wines, auctions are also used for commodities, livestock, radio spectrum and used cars.

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