Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.

Types of Auctions:

Different types of auctions take place around the world. Below mentioned are some types of auctions:

1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.

2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.

3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.

Examples of Auctions:

Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:

1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.

2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.

3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.

4. Horse auction: Bidders can bid for young horses of the best breed.

5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.

The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:

1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction

Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.

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A Tucson area realtor could tell you that of the nearly one million people that live in the Tucson metropolitan area, less than 600,000 live in the city of Tucson. The rest live in the outlying communities and neighborhoods. If you are planning on relocating to Tucson, or even if you already live there, a Tucson area realtor can give you insight and guidance to help you to find the best neighborhoods and homes for you and your family. Whether you are a retiree who is looking to play golf in your “backyard” course everyday, or a family with young children who wants to live in the area with the best schools and family programs, a Tucson area realtor can help you to find your dream home. Each area of the Tucson metro area (North, South, East and West) has its own distinct personality and lifestyle. Here are some brief descriptions:

North: You will find the areas of Oro Valley, Catalina, and Marana. A Tucson area realtor can point out both the retirement communities and the family communities in the area. These areas were traditionally farming communities, but have recently experienced a growth in development.

West: A Tucson area realtor will let you know that west of the city is Saguaro National Monument and the world renowned Arizona Sonora Desert Museum, along with the tourist attraction Old Tucson, where many westerns were filmed. There are stunning luxury homes in the foothills that your Tucson area realtor can show you, or you may be considering the quiet little community of Avra.

South: South of Tucson you will find the communities of Sahaurita, San Xavier, and Green Valley. Your Tucson area realtor can show you both upscale communities and homes for those who are on a more modest budget. You will also be in short driving distance from Davis Monthan Airforce base, and Electric Park where many major league teams have their spring training.

East: Tanque Verde is an area that is upscale that your Tucson area realtor may show you. You can also find homes in the Catalina Mountains and Mount Lemmon. Some of these are summer homes. In the Catalinas, you can fish, hike, camp and even hang glide.

No matter what area of the Tucson metropolitan area you decide to settle down in you will find it a great city. You have access to the University of Arizona with its world renowned medical center and sports teams, cultural activities, and a rich heritage that is longer than most areas in the country.