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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 ...
The 1904 Rolls-Royce 10 hp Two-Seater is currently listed on the Guinness World Records as the most expensive veteran car to be sold, at the price of US$7,254,290 (equivalent to $10,660,000 in 2023), on a Bonhams auction held at Olympia in London on December 3, 2007. [3]
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.
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Old Slave Mart. / 32.7778; -79.9284. The Old Slave Mart is a building located at 6 Chalmers Street in Charleston, South Carolina that once housed an antebellum-period slave -auction gallery. [2] Constructed in 1859, the building is believed to be the last extant slave auction facility in South Carolina. In 1975, the Old Slave Mart was added to ...
A Patek Philippe pocket watch. This list of most expensive watches sold at auction documents the watches sold at auction worldwide for at least 1.5 million US dollars.The final price listed is the total price paid by the buyer converted to US dollars, according to the currency exchange rate at the time of auction.
A combinatorial auction is a type of smart market in which participants can place bids on combinations of discrete heterogeneous items, or “packages”, rather than individual items or continuous quantities. These packages can be also called lots and the whole auction a multi-lot auction. [1] Combinatorial auctions are applicable when bidders ...
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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