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Author: Angelo Artale
Publisher: Springer Science & Business Media
ISBN: 3642591582
Category : Business & Economics
Languages : en
Pages : 176
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Book Description
In auctions, bidders compete with one another in their attempt to 1 purchase the goods that are up for sale • But buyer competition may be reduced or disappear when a ring of colluding bidders is present. The purpose of the participants to a ring is to eliminate buyer competition and to realize a gain over vendors. When all participants are members of the ring, this is done by purchasing the item at the reserve price and splitting the spoils (the difference between the item market value and the reserve price) among the participants. "The term ring apparently derives from the fact that in a settlement sale following the auction, members of the collusive arrangement form a circle or ring to facilitate observation of their trading behavior by the ring leader" (Cassady jr. (1967)). If the coalition members knew other players' values, the problem faced by the ring might be easily solved: the player with the highest value should submit a serious bid and the other members, on the contrary, only phony bids. However, ring participants do not usually know the values of other members. Therefore, ring members have to find out some mechanism which selects the player who has to bid seriously and, eventually, esta blish side payments paid to each of the losers2.
Author: Angelo Artale
Publisher: Springer Science & Business Media
ISBN: 3642591582
Category : Business & Economics
Languages : en
Pages : 176
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Book Description
In auctions, bidders compete with one another in their attempt to 1 purchase the goods that are up for sale • But buyer competition may be reduced or disappear when a ring of colluding bidders is present. The purpose of the participants to a ring is to eliminate buyer competition and to realize a gain over vendors. When all participants are members of the ring, this is done by purchasing the item at the reserve price and splitting the spoils (the difference between the item market value and the reserve price) among the participants. "The term ring apparently derives from the fact that in a settlement sale following the auction, members of the collusive arrangement form a circle or ring to facilitate observation of their trading behavior by the ring leader" (Cassady jr. (1967)). If the coalition members knew other players' values, the problem faced by the ring might be easily solved: the player with the highest value should submit a serious bid and the other members, on the contrary, only phony bids. However, ring participants do not usually know the values of other members. Therefore, ring members have to find out some mechanism which selects the player who has to bid seriously and, eventually, esta blish side payments paid to each of the losers2.
Author: Liza Urla
Publisher: Antique Collector's Club
ISBN: 9781851498819
Category : Antiques & Collectibles
Languages : en
Pages : 0
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Book Description
Liza Urla is the author of the jewelry blog, Gemologue https://gemologue.com/tag/jewelry-blog
Author: Jill Burgum
Publisher: Heritage Capital Corporation
ISBN: 9781599674445
Category : Antiques & Collectibles
Languages : en
Pages : 144
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Book Description
Author: Jill Burgum
Publisher: Heritage Capital Corporation
ISBN: 1599675471
Category : Antiques & Collectibles
Languages : en
Pages : 208
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Book Description
Author: Ralph Cassady Jr.
Publisher: Univ of California Press
ISBN: 0520322258
Category : Business & Economics
Languages : en
Pages : 346
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Book Description
This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1967.
Author: Vincent Meylan
Publisher: Acc Art Books
ISBN: 9781788841375
Category : Antiques & Collectibles
Languages : en
Pages : 360
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Book Description
- Compiled with full access to Christie's famous archives - Reveals the romance, drama, intrigue - even danger - attached to some of the world's most storied jewels - Expertly curating Christie's extensive archives, Vincent Meylan has drawn out the key details of each momentous sale - Stories of the world's great jewelry collections For centuries, the stories of the world's great jewelry collections have lain hidden within the archives of Christie's, the celebrated auctioneers. From the tragic European queens, Mary, Queen of Scots and Marie Antoinette - both beheaded - to Hollywood royalty such as Elizabeth Taylor, the vaults sparkle with the most famous (and occasionally notorious) names of the last 250 years. Following on from the success of his books on Boucheron: The Secret Archives, Van Cleef & Arpels: Treasures and Legends and Mellerio: Jewellers to the Queens of Europe, author Vincent Meylan explores these remarkable jewelry archives, revealing the mysteries within for the first time. Each sale had its intrigue, each its story to tell. The first auction of jewelry from the British royal family took place at Christie's in 1773, after the death of the Princess of Wales, mother of George III. As the archives reveal, in the subsequent centuries, Christie's has been party to the sale of jewelry by several further generations of British royals, from Lady Patricia Ramsay and the Countess of Southesk through to Princess Margaret, Countess of Snowdon. And, in the wake of revolution and regicide further afield, the crown jewels of France, Russia, Bavaria, Serbia, Egypt, India and Spain were all sold at Christie's. Aside from Elizabeth Taylor, the legendary movie star collections of Merle Oberon and Gloria Swanson are also revealed here, as well as the most famous pearls and diamonds in the world; each explored within the context of their owners' remarkable lives. Expertly curating the extensive archives, Vincent Meylan has drawn out the key details of each momentous sale. Original documents from the vaults are reproduced in the book, alongside hundreds of color illustrations of the jewels and their owners.
Author: Ralph Cassady
Publisher: Univ of California Press
ISBN:
Category :
Languages : en
Pages : 356
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Book Description
Author: Charles W. Smith
Publisher: Univ of California Press
ISBN: 9780520072015
Category : Business & Economics
Languages : en
Pages : 244
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Book Description
Smith tells how the straight capitalist economic law of supply and demand rarely governs the auction process, and how the beliefs and actions of the auction participants determine values.
Author: National Auctioneers Association (U.S.)
Publisher: Penguin
ISBN: 9781592576418
Category : Business & Economics
Languages : en
Pages : 340
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Book Description
A $227.5 billion enterprise around the world, live auctions feature everything from cars to homes, fine art to coal. The only book of its kind, this guide will show how lucrative, fast-paced, and exciting this business is. It covers rules, lingo, setting up an auction, hiring professional auctioneers, and how the most popular auctions work.Expert author team- a veteran business author and the National Association for AuctioneersDetailed run-down of every aspect of live auctionsResource section with auction house listings
Author: Vijay Krishna
Publisher: Academic Press
ISBN: 0080922937
Category : Business & Economics
Languages : en
Pages : 337
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Book Description
Auction Theory, Second Edition improves upon his 2002 bestseller with a new chapter on package and position auctions as well as end-of-chapter questions and chapter notes. Complete proofs and new material about collusion complement Krishna's ability to reveal the basic facts of each theory in a style that is clear, concise, and easy to follow. With the addition of a solutions manual and other teaching aids, the 2e continues to serve as the doorway to relevant theory for most students doing empirical work on auctions. - Focuses on key auction types and serves as the doorway to relevant theory for those doing empirical work on auctions - New chapter on combinatorial auctions and new analyses of theory-informed applications - New chapter-ending exercises and problems of varying difficulties support and reinforce key points
