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Types of Auctions and Their Terminology

The auction is an old and unique method of making a purchase. Whether you attend an auction in person or participate in one online, the goal is to make the highest bid for the item you desire without paying more than you can afford. With the proliferation of online auctions, everything can be found on the block, from choice real estate to a collectible penny. Economists laud auctions for helping to create near perfect price discrimination.

  • Online Auctions - These auctions are a recent phenomenon. The public can log onto a specific website and bid on items ranging from houses to auto parts. The auction usually has a strict time limit. At the end of time, the website will distribute the item to the highest bidder.
  • Government Auctions - Government or Municipalities auctions raise money by selling off Repo goods at these specialized auctions. Often, a house or a boat that has been taking by the IRS will be sold at a greatly reduced price to the public. When IRS workers come around to collect property from tax dodgers, this is where that property ends up.
  • Charity Auctions - Nonprofit organizations raise money by auctioning off donated goods. Charity auctions for small organizations may include only minor equipment, however the larger NGOs and NPOs may auction off cars and Antiques.
  • Penny Auctions - These specialized auctions are gaining popularity due to an increase in copper speculation. Older pennies have a higher copper content. You can buy them by the sackful online and watch the price of copper slowly creep up.
  • Auto Auctions - These markets are the best way to find rare or refurbished cars unavailable on the mass market. Collectors and auto mechanics sell their most valuable vehicles through auctions to make the highest return.
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    National Auctioneers Association
    Overland Park, KS 66214
    Our association is the most committed providing our members with vital resources and professional development services. Make sure you have a membership to our auction association today!
     
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    Murad Auctions
    216 Rockland Trl, Allen, TX 75002
    Murad Auctions is a company dedicated to helping nonprofit organizations raise the most money for their cause through their fundraising events.
    (972) 238-0249
    Estate Liquidators
    Dallas, TX 75201
    Our estate professionals specialize in real estate and all estate property liquidations. We conduct auctions to liquidate family estates. We also provide moving services and appraisals.
    (972) 818-3000
    World Wide Auction
    2022 Shenandoah, Carrollton, TX 75007
    Auction Co. & Auction Group is an Exclusive Auction Company that conducts professional auctions Live & Online under strict guidelines with banks. Governmental & corporate entities.
    (972) 672-8725
    Canton Consignment & Auction
    1590 S Buffalo St, Canton, TX 75103
    (903) 567-2107
    Armstrong Flea Market
    1222 W Fm 564, Mineola, TX 75773
    (903) 569-1404
    Manning's Auction
    1865 Hideaway Ln, Quinlan, TX 75474
    (903) 883-4586
    Auction Blue DOT
    7251 E Us Highway 80, Hawkins, TX 75765
    (903) 769-4838
    Cumby Auction
    7387 S Interstate Highway 30, Cumby, TX 75433
    (903) 994-2256
    C & W Auction
    201 Eastexas Rd, Mabank, TX 75156
    (903) 887-9511
    Sulphur Springs Dairy Auction
    1910 S Broadway St, Sulphur Springs, TX 75482
    (903) 885-2455
    Bartley Stockyards
    4163 Texas Highway 19 S, Sulphur Springs, TX 75482
    (903) 485-2576
    Clay Potter Auction
    138 S Main St, Farmersville, TX 75442
    (972) 782-7653
    Hometown Auction Co
    805 Broadway Ave, Gladewater, TX 75647
    (903) 845-3830
    Billy Johnson Auction Services
    301 Church St, White Oak, TX 75693
    (903) 759-5423
    Landmark Auction Services
    210 N Dallas St, Ennis, TX 75119
    (972) 872-9926


    Auctions are public events that allow people to bid on anything from houses, to antiques, to school memorabilia, to vintage coin and stamp collections. These events are sometimes large and sometimes small. An auction can be held by the government or it can be held by an estate or property owner. While auctions allow individuals and families to sell off cars, art pieces, home furnishings, and computer equipment, they also allow people to buy all sorts of items at lower rates. In this day and age, public auctions are not merely held at a house, estate, local site or large building. Now there are plenty of online auctions that sell overstock goods, home surplus items and vintage antiques. It is important to determine whether or not each item has a reserve price. This way you can decide if you want to buyout other bidders before the time runs out. On a separate note, there are also silent auctions that are held in public venues. Often these events are for high-end goods, antique jewelry, expensive artwork, and rare coin collections. Just keep in mind that once you place a bid, you cannot back out. Use the World Wide Web to learn more about auction house locations, government held events, online bidding, and residential home property for sale. This way you can focus on the type of auction you would be most interested in. You will likely discover that there are public auctions being held in your area and online all the time.
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