ITV Digital was a British digital terrestrial television broadcaster which launched a pay-TV service on the world's first digital terrestrial television network. Its main shareholders were Carlton Communications plc and Granada plc, owners of two franchises of the ITV network. Starting as ONdigital in 1998, the service was re-branded as ITV Digital in July 2001.
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory.
Bargain Hunt is a British television programme in which two pairs of contestants are challenged to buy antiques from shops or a fair and then sell them in an auction for a profit. It has aired on BBC One since 13 March 2000 in a daytime version, and from 22 August 2002 to 13 November 2004 in a primetime version.
GMTV, now legally known as ITV Breakfast Broadcasting Limited, was the name of the national Channel 3 breakfast television contractor/licensee, broadcasting in the United Kingdom from 1 January 1993 to 3 September 2010. It became a wholly owned subsidiary of ITV plc in November 2009. Shortly after, ITV plc announced the programme would end. The final edition of GMTV was broadcast on 3 September 2010.
An online auction is an auction held over the internet and accessed by internet connected devices. Similar to in-person auctions, online auctions come in a variety of types, with different bidding and selling rules.
An English auction is an open-outcry ascending dynamic auction. It proceeds as follows.
Watchdog was a British consumer investigative journalism programme, broadcast on BBC One from 1985 to 2019. The programme focused on investigating complaints and concerns made by viewers and consumers over problematic experiences with traders, retailers and other companies around the UK, over customer services, products, security, and possible fraudulent/criminal behaviour. Since it first began, the programme had achieved great success in changing the awareness consumers have of their purchasing rights, as well as pushing forward for changes in company policies and consumer laws, and in some cases helping to close down businesses whose practices have left many people dissatisfied and out of pocket. The show's longstanding slogan was "the programme you cannot afford to miss".
Price Drop is a British television shopping channel based in the UK, that ran daily live reverse auctions. It was the first reverse auction channel of its kind in the world. The channel was owned by Bid Shopping.
Shop at Bid was a British television shopping channel that ran daily auctions and later fixed price demonstrations. It was the world's first channel of its kind. It launched as Bid-Up.tv. The channel was owned by Bid Shopping.
Digital terrestrial television in the United Kingdom encompasses over 100 television, radio and interactive services broadcast via the United Kingdom's terrestrial television network and receivable with a standard television set. The majority of digital terrestrial television (DTT) services, including the five former analogue channels, are broadcast free-to-air, and a further selection of encrypted pay TV services are also available.
A bidding fee auction, also called a penny auction, is a type of all-pay auction in which all participants must pay a non-refundable fee to place each small incremental bid. The auction is extended each time a new bid is placed, typically by 10 to 20 seconds. Once time expires without a new bid being placed, the last bidder wins the auction and pays the amount of that bid. The auctioneer profits from both the fees charged to place bids and the payment for the winning bid; these combined revenues frequently total more than the value of the item being sold. Empirical evidence suggests that revenues from these auctions exceeds theoretical predictions for rational agents. This has been credited to the sunk cost fallacy. Such auctions are typically held over the Internet, rather than in person.
Bid Plus was a British television shopping channel owned by Bid Shopping. The channel ceased broadcast on 1 July 2013.
A double auction is a process of buying and selling goods with multiple sellers and multiple buyers. Potential buyers submit their bids and potential sellers submit their ask prices to the market institution, and then the market institution chooses some price p that clears the market: all the sellers who asked less than p sell and all buyers who bid more than p buy at this price p. Buyers and sellers that bid or ask for exactly p are also included. A common example of a double auction is stock exchange.
Auction theory is an applied branch of economics which deals with how bidders act in auction markets and researches how the features of auction markets incentivise predictable outcomes. Auction theory is a tool used to inform the design of real-world auctions. Sellers use auction theory to raise higher revenues while allowing buyers to procure at a lower cost. The conference of the price between the buyer and seller is an economic equilibrium. Auction theorists design rules for auctions to address issues which can lead to market failure. The design of these rulesets encourages optimal bidding strategies among a variety of informational settings. The 2020 Nobel Prize for Economics was awarded to Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats.”
iBuy was a British satellite-based home shopping channel.
TJC is a British home shopping channel and online retailer specialising in jewellery, home, beauty, fashion, gemstones and other lifestyle accessories. It is one of the main TV shopping channels in the UK. The channel launched on 4 April 2006, and currently broadcasts 24 hours a day.
Ideal World is a British TV shopping channel, broadcasting on Freeview, Satellite, Cable and online, with transactional websites, broadcast from studios in Peterborough.
eBay has experienced controversy, including cases of fraud, its policy requiring sellers to use PayPal, and concerns over forgeries and intellectual property violations in auction items.
The British media company Sky UK has incurred criticism over the years, much of it centred on overcharging, anti-competitive practices, and the business practices and undue political influence of its one-time majority owner News Corporation.
Storage Wars is an American reality television competition series that airs on the A&E network. It initially aired for twelve seasons, from December 1, 2010, to January 30, 2019. A 13th season premiered in April 2021.
