Shopping at auctions Part-1.

Shopping at auctions is a great way for shoppers to get bargains and find "one-of-a-kind" gifts for family members and loved ones. Many types of items are sold at auction: real estate, business inventories, fine art, antiques, automobiles, and household estates. Thus, interesting and unique merchandise is often available for purchase at an auction.

An auction is an accelerated sales process by which items or lots are rapidly sold, usually to the highest bidder. Selling rates at certain types
of auctions exceed 100 lots per hour. Each lot's sale presents bidders with a small window of opportunity to make a purchasing decision. Bidding success at an auction requires knowledge of auction selling propositions and terminology.

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