| Treasures, Rarities, Antiques & Collectibles | |||
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The primary
purpose of this page to give detailed provenance
information regarding certain items, presently
highlighted in yellow, on this page which are up, or will soon be up, for auction.
Click the picture itself to see the provenance information and larger
size pictures of the item. Click on the A
to go to the auction site where bids may be placed. Items not
highlighted in yellow are, either, linked to more pictures of the item
or the item's on-going auction listing. special
note: On this site,
only partially hidden, may be listed what is quite possibly the most
extraordinary find in the
history of the antique industry. If you successfully find it you can
bid on it. The starting bid is a mere fraction of the 5.5 billion
value. Good luck.
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| Make Me An Offer - Send
Offer Via Email To artatfastmoneyhappens.com note: Replace at with @ before sending email. |
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| There Are Many
More Artifacts To Be Added To This Page In The Near Term. Bookmark This
Page And Check For New Additions Very Often. |
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| Online
auctions business model From Wikipedia, the free encyclopedia The online auctions business model is one in which participants bid for products and services over the internet. When one thinks of online auctions they typically think of eBay, the world's largest online auctions site. Like most auctions companies, eBay does not actually sell goods that it owns itself. eBay merely facilitates the process of listing and displaying goods, bidding on items, and paying for them. It acts as a marketplace for individuals and businesses who use the site to auctions off goods and services. Several types of online auctions are possible. In an English auctions the initial price starts low and is bid up by successive bidders. In a Dutch auctions multiple identical items are offered in one auctions, with all winning bidders paying the same price -- the highest price at which all items will be sold. Treasury bills are auctioned using the Dutch auctions concept. Almost all online auctions use the English auctions method. Strengths of the business model - The strategic advantages of this business model include: 1. No time constraints. Bids can be placed at any time (24/7). Items are listed for a number of days, at the discretion of the seller, giving purchasers time to search, decide, and bid. This convenience increases the number of bidders. 2. No geographical constraints. Sellers and bidders can participate from anywhere that has internet access. This makes auctions more accessible and reduces the cost of "attending" an auctions. This increases the number of listed items (ie.: number of sellers) and the number of bids for each item (ie.: number of bidders). The items do not need to be shipped to a central location, reducing costs, and reducing the seller's minimum acceptable price. 3. Intensity of social interactions. The social interactions involved in the bidding process are very similar to gambling. The bidders wait in anticipation hoping they will "win". eBay calls the successful bidder the "winner". Much like gambling addiction, many bidders bid primarily to "play the game" rather than to obtain products or services. This creates a highly loyal customer segment for eBay. 4. Large number of bidders. Because of the potential for a relatively low price, the broad scope of products and services available, the ease of access, and the social benefits of the auctions process, there are a large numbers of bidders. 5. Large number of sellers. Because of the large number of bidders, the potential for a relatively high price, reduced selling costs, and ease of access, there are a large number of sellers. 6. Network economies. The large number of bidders will encourage more sellers, which, in turn, will encourage more bidders, which will encourage more sellers, etc., in a virtual spiral. The more the spiral operates the larger the system becomes and the more valuable the business model becomes for all participants. 7. Captures consumers' surplus. Auctions are a form of first degree price discrimination. As such, they attempt to convert part of the consumers' surplus (defined as the area above the market price line but below the firm's demand curve) into producers' surplus. On-line auctions are efficient enough forms of price discrimination that they are able to do this. Dutch auctions From Wikipedia, the free encyclopedia Dutch auctions is a type of an auctions where the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the auctioneer's price, or a predetermined minimum price is reached. That participant pays the last announced price. This type of auctions is convenient when it is important to auctions goods quickly, since a sale never requires more than one bid. A variation on the Dutch auctions was used on the IPO for Google stock. The Dutch auctions is named for its best known example, the Dutch tulip auctions; in the Netherlands this type of auctions is actually known as a "Chinese auctions". "Dutch auctions" is also sometimes used to describe online auctions where several identical goods are sold simultaneously to an equal number of high bidders. Economists call the latter auctions a multi-unit English ascending auctions. Vickrey auctions From Wikipedia, the free encyclopedia A Vickrey auctions is a type of sealed-bid auctions in which bidders submit written bids without knowing the bid of the other people in the auctions. The highest bidder wins, but the price paid is the second highest bid. The auctions was created by William Vickrey. This type of auctions is strategically similar to an English auctions, and gives bidders an incentive to bid their true value. Vickrey's original paper considered only auctions in which a single, indivisible, good is being sold. In this case, the terms Vickrey auctions and second-price sealed-bid auctions are equivalent and are used interchangeably. When multiple identical units, or a divisible good, are being sold in a single auctions the most obvious generalization is to have all bidders pay the amount of the highest non-winning bid. This is known as a uniform-price auctions. The uniform-price auctions does not, however, result in bidders bidding their true valuations as they do in a second-price auctions. For that reason, the name "Vickrey auctions" in the multi-good auctions is usually reserved by economists for a more complicated pricing scheme based on opportunity cost, which does give bidders the incentive to bid truthfully. Vickrey auctions are much studied in economic literature, but are not particularly common in practice. One market in which they have been used is stamp collecting. eBay's system of proxy bidding is similar, but not identical, to a Vickrey auctions. A slight variant of a Vickrey auctions is known to be used in Google's online advertisement programme, AdSense, its transparency allowing real-time unmonitored auctions to take place. In a Vickrey auctions each bidder maximizes his or her expected utility by bidding (revealing) his or her true valuation. Ex-post efficiency A Vickrey auctions is ex-post efficient (the winner is the bidder with the highest valuation) under the most general circumstances; it thus provides a baseline model against which the efficiency properties of other types of auctions can be posited. |