Auction: Difference between revisions
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imported>Doug Williamson (Add link.) |
imported>Doug Williamson (Add link.) |
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* [[Offer]] | * [[Offer]] | ||
* [[Open outcry]] | * [[Open outcry]] | ||
* [[Private treaty]] | |||
* [[T-bill rate]] | * [[T-bill rate]] | ||
* [[Tender]] | * [[Tender]] | ||
Latest revision as of 19:09, 28 October 2022
1. Noun.
A competitive pricing process in which prospective purchasers submit rival bids.
The item - or items - being offered for sale are then sold to the purchaser - or purchasers - submitting the most favourable bids, for example, the highest prices.
2. Adjective.
Relating to a competitive pricing process as described above.
