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Mecum Auctions, Inc. is an American auction company specializing in collector cars. It was founded by Dana Mecum in 1988, and was originally based in Marengo, Illinois. Since 2011, it has been headquartered in Walworth, Wisconsin. The company hosts various auction events across the United States. Television coverage began in 2008, contributing ...
An online auction (also electronic auction, e-auction, virtual auction, or eAuction) is an auction held over the internet and accessed by internet connected devices. [1] [2] [3] Similar to in-person auctions, online auctions come in a variety of types , with different bidding and selling rules.
Ritchie Bros. Auctioneers was established in Kelowna, British Columbia, Canada. A Canadian company which the three Ritchie brothers – Ken, John and Dave Ritchie – took over the OK Used Furniture Store from their father in 1955. They entered the auction business in 1958 when they needed CA$2,000 to pay a bank debt on short notice.
RM Sotheby's is a collector car auction company headquartered in Blenheim, Ontario, Canada, with offices across the United States, Europe, and the Middle East. The company specializes in the sale of classic, vintage, sports, and exotic cars, and is responsible for the sale of seven of the top ten most expensive cars ever sold at auction. [1]
Phillips, formerly known as Phillips the Auctioneers and briefly as Phillips de Pury, is a British auction house. It was founded in London in 1796, and has head offices in London and in New York City. In 2022 it was owned by the Mercury Group, a Russian luxury goods company. History
The winner's curse is a phenomenon that may occur in common value auctions, where all bidders have the same ( ex post) value for an item but receive different private ( ex ante) signals about this value and wherein the winner is the bidder with the most optimistic evaluation of the asset and therefore will tend to overestimate and overpay.
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