Wed. Sep 29th, 2021
    Auction, Free TON, Free TON House, Wiki

    Auction — a public sale with the award of the sold product to the winner of the auction in accordance with predetermined rules. Competition between the participants characterizes it.

    Types of auctions:

    1. English auction — sale at the highest bid.
    2. Dutch auction — a sale with a reduction of the declared price to the value that the participant who first announced it is willing to pay.
    3. Forward auction — starts with the seller announcing the sale of a product.
    4. Reverse auction — starts with the buyer announcing the desire to purchase the product.
    5. Open auction — bidders are aware of the announced value and the bids made.
    6. Closed auction — auction participants are not aware of the announced value and/or the value of bids of other participants.