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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.
Auburn is a city in DeKalb County, Indiana, United States. The population was 13,820 at the 2020 census. Founded in 1836 by Wesley Park (1811–1868), the city is the county seat of DeKalb County. Auburn is also known as Home of the Classics.
Philatelic investment is investment in collectible postage stamps for the purpose of realizing a profit. Philatelic investment was popular during the 1970s but then fell out of favour following a speculative bubble and prices of rare stamps took many years to recover.
Sotheby's is a British-founded multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, and maintains a significant presence in the UK.
Auburn was a brand name of American automobiles produced from 1900 to 1937, most known for the Auburn Speedster models it produced, which were fast, good-looking and expensive. However, after the 1929 Wall Street Crash, and the economic downturn that ensued, Auburn's expensive automobiles, along with its also very expensive sister marques Duesenberg and Cord, saw inevitable sales downturns, and all vehicle business halted in 1937.
John Maurice O'Quinn was a Texas trial lawyer and founding partner of The O'Quinn Law Firm. His firm made its business handling plaintiff's litigation, including representing clients suing breast implant manufacturers, medical facilities, and tobacco companies. In 2009, O'Quinn, along with his passenger, died in a single car crash in Houston, Texas.
Barrett-Jackson is an American collector car auction company headquartered in Scottsdale, Arizona. It was founded by Scottsdale business partners Tom Barrett and Russ Jackson. They initially launched a car show, Fiesta de los Autos Elegantes, in 1967 to raise money for local facilities. The first Barrett-Jackson auction, originally meant as a one-time event, was held in December 1971. Due to its success, it became an annual event, eventually prompting the creation of other collector car auctions in the Scottsdale area.
Dean V. Kruse is an American former auctioneer. He is also the former owner and CEO of Kruse International. Kruse started working in the local auction business founded by his father, Russell W. Kruse, and soon became the company's president. Known to many as the "Dean of Auctioneers," Kruse was once a well-respected member of the collector car hobby.
The Reppert School of Auctioneering is an auctioneer education provider, since 1921.
Ritchie Bros. Auctioneers (RBA), or simply Ritchie Bros., is a publicly traded Canadian company based in Chicago, Illinois. Its common shares are traded on the New York and Toronto stock exchanges.
Russell Wayne Kruse was an American auctioneer best known for building the business of auctioning classic cars through Kruse International.
RM Sotheby's is a collector car auction company headquartered in Blenheim, Ontario, Canada, with offices across the United States, Europe, and the Middle East. The company specializes in the sale of classic, vintage, sports, and exotic cars, and is responsible for the sale of seven of the top ten most expensive cars ever sold at auction. Included in this is the sale of the 1955 Mercedes-Benz 300 SLR 'Uhlenhaut Coupé', sold for 135 million Euros in May 2022, the most expensive car ever sold and one of the most valuable objects ever sold at auction. The previous record for the most expensive car at auction, a 1962 Ferrari 250 GTO, had also been sold by RM Sotheby’s, at their 2018 Monterey auction. RM Sotheby’s services include auctions, private treaty sales, financial services, valuations, and estate planning, and they have been partly owned by Sotheby's, a global auction house dealing in fine art, since 2015.
The T206 Honus Wagner baseball card depicts the Pittsburgh Pirates' Honus Wagner, known as "The Flying Dutchman,” a dead-ball era baseball player who is widely considered to be one of the best players of all time. The card was designed and issued by the American Tobacco Company (ATC) from 1909 to 1911 as part of its T206 series. Wagner refused to allow production of his baseball card to continue, either because he did not want children to buy cigarette packs to get his card, or because he wanted more compensation from the ATC. The ATC ended production of the Wagner card, and a total of only 50 to 200 cards were ever distributed to the public, as compared to the "tens or hundreds of thousands" of T206 cards, over three years in sixteen brands of cigarettes, for any other player. In 1933, the card was first listed at a price value of US$50 in Jefferson Burdick's The American Card Catalog, making it the most expensive baseball card in the world at the time.
Auto auctions are a method of selling vehicles based on an auction system. Auto auctions can be found in most countries and are usually exclusive to licensed automobile dealers. In a few countries, such as Japan, auto auctions are well known and used by most residents.
Dennis K. Kruse is an American businessman and politician. Kruse was a founder of the auction business Kruse International before entered politics as a Republican. He was a member of the Indiana House of Representatives from 1989 to 2004 and the Indiana Senate from 2004 to 2022, representing Senate District 14.
The Duesenberg Model J is a luxury automobile made by Duesenberg. Intended to compete with the most luxurious and powerful cars in the world, it was introduced in 1928, the year before the stock market crash that led to the Great Depression. The Model J, available with a supercharger after 1932, was sold until Duesenberg Motors Company went bankrupt in 1937.
Gooding & Company is a classic car auction company headquartered in Santa Monica, California. Incorporated in 2003, the company holds multiple all-time records for the most expensive cars sold in auction. The company also provides private treaty sales, estate planning, and appraisals. Since 2004, Gooding & Company has been the official auction house of the Pebble Beach Concours d'Elegance. The global auction house also hosts its London Auction as the official auction partner of the Concours of Elegance at Hampton Court Palace since 2021. Additional auctions are held each year in Amelia Island, Florida. At the present, the auction house holds the world record prices at auction for 12 automotive marques, including Duesenberg, Porsche, Ferrari, Bugatti, McLaren, and RUF.
Profiles in History was an auction house in Los Angeles, California. It was founded in 1985 by Joseph Maddalena, who is an auctioneer and dealer of authentic and original collectibles, including Hollywood memorabilia, historical autographs, letters, documents, vintage signed autographs, and manuscripts. Maddalena was the company's president and CEO. It became defunct in January 2021 when Maddalena joined former rival Heritage Auctions.
References
- 1 2 "State strips Kruse of auction licenses". WANE.com. Fort Wayne, Indiana. 25 May 2010. Archived from the original on 27 May 2010. Retrieved 17 August 2010.
- ↑ "Duesenberg car sells for more than $1M at Naples auction". archive.naplesnews.com. Retrieved 2021-03-08.
- ↑ "eBay acquires two firms". CNET News, May 18, 1999. [ dead link ]
- ↑ "It's Back to the Basics for eBay - InternetNews". www.internetnews.com. Retrieved 2021-04-08.
- ↑ "RM Auctions buys Kruse Auction Park". Archived from the original on 2010-07-04. Retrieved 2021-04-08.
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