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.
eBay Inc. is an American multinational e-commerce corporation based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995, and became a notable success story of the dot-com bubble. eBay is a multibillion-dollar business with operations in about 32 countries, as of 2019. The company manages the eBay website, an online auction and shopping website in which people and businesses buy and sell a wide variety of goods and services worldwide. The website is free to use for buyers, but sellers are charged fees for listing items after a limited number of free listings, and again when those items are sold.
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.
Beaune is the wine capital of Burgundy in the Côte d'Or department in eastern France. It is located between Lyon and Dijon. Beaune is one of the key wine centers in France, and the center of Burgundy wine production and business. The annual wine auction of the Hospices de Beaune is the primary wine auction in France.
Sotheby's is a British-founded American 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, but maintains a significant presence in the UK.
The Stanley Gibbons Group plc is a company quoted on the London Stock Exchange specialising in the retailing of collectable postage stamps and similar products. The group is incorporated in London. The company is a major stamp dealer and philatelic publisher. The company's philatelic subsidiary, Stanley Gibbons Limited, has a royal warrant of appointment from Queen Elizabeth II.
Burgundy wine is made in the Burgundy region of eastern France, in the valleys and slopes west of the Saône, a tributary of the Rhône. The most famous wines produced here—those commonly referred to as "Burgundies"—are dry red wines made from pinot noir grapes and white wines made from chardonnay grapes.
An online auction is an auction which is held over the internet. Like auctions in general, online auctions come in a variety of types like ascending English auctions, descending Dutch auctions, first-price sealed-bid, Vickrey auctions and others, which are sometimes not mutually exclusive.
The Côte de Beaune area is the southern part of the Côte d'Or, the limestone ridge that is home to the great names of Burgundy wine. The Côte de Beaune starts between Nuits-Saint-Georges and Beaune, and extends southwards for about 25 km to the river Dheune. The trend of producing red wines continues from the Côte de Nuits to the north, down through Beaune, although the wines become lighter and more perfumed. Farther south lie the great names of white Burgundy such as Meursault and Chassagne-Montrachet. The far south of the district sees a return to red wines in Santenay that continues across the Dheune into the Côte Chalonnaise. This mix of Pinot noir and Chardonnay grapes reflects geology in the southern Côte d'Or that is more variable than in the north.
An art auction or fine art auction is the sale of art works, in most cases in an auction house.
Auction World.tv was a British television channel which auctioned a variety of products by telephone bidding.
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.
A number of German wine auctions are held each year, where the premier German wine producers auction off some of the best young wines, as well as some older wines. Most auctions are arranged by the regional associations of Verband Deutscher Prädikats- und Qualitätsweingüter (VDP). These auctions differ from wine auctions on the second-hand market held by auction houses, where collectible wines are sold by private or corporate owners, since it is "first hand" wines that are sold.
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.
Beaune wine is produced in the commune of Beaune in the Côte de Beaune subregion of Burgundy. The Appellation d'origine contrôlée (AOC) Beaune may be used for red and white wine with respectively Pinot noir and Chardonnay as the main grape variety. The production consists of slightly over 85 percent red wine, and slightly less than 15 percent white wine. While there are no Grand Cru vineyards within Beaune, there are several well-known and highly regarded Premier Cru vineyards, including some that are owned by the large négociant houses in Beaune and produce some of their "flagship" wines at the Premier Cru level. The AOC was created in 1936.
Bruce Hershenson is an American entrepreneur, publisher, and gambler, who in 1999 founded the movie memorabilia auction company eMoviePoster. He is a collector of movie pressbooks and has edited 43 movie poster history books.
Paddle8 was an online auction house based in New York City selling fine art including Post-War and Contemporary art, prints & multiples, photography, street art and collectibles. Paddle8's sales focus on pieces priced between $1,000 and $100,000, all vetted by specialists for authenticity. Paddle8 had offices in New York, Los Angeles, London and Hong Kong. In 2016, Paddle8 merged with the Berlin online auction house Auctionata. In February 2017, Auctionata declared insolvency and Paddle8 became an independent company once again, before selling to Native in 2018, and then to Facebank AG in 2019. In March 2020, Paddle8 filed for Chapter 11 bankruptcy protection in New York just one week after the non-profit New American Cinema Group filed a lawsuit against the company for allegedly misappropriating funds from a charity auction.
The Hospices de Beaune or Hôtel-Dieu de Beaune is a former charitable almshouse in Beaune, France. It was founded in 1443 by Nicolas Rolin, chancellor of Burgundy, as a hospital for the poor. The original hospital building, the Hôtel-Dieu, one of the finest examples of fifteenth-century Burgundian architecture, is now a museum. Services for patients are now provided in modern hospital buildings.
The art market is the marketplace of buyers and sellers trading in commodities, services, and works of art.
Sour Grapes is an American crime documentary about wine fraudster Rudy Kurniawan. Filmmakers Jerry Rothwell and Reuben Atlas debuted the documentary at film festivals in October 2016 and on Netflix the following month.
