What Things Come Under The Hammer In Auctions

The most obvious of items that are sold via auctions include collectibles, luxurious items and art work. These are items that have for long been sold using auctions in posh hotels and auction houses where only the most eligible of families are invited. Art work of only the best painters, designer furniture, luxury property, coin collections, wines of a vintage nature and similar items are usually sold using auctions because they cannot fetch a high price through usual marketing channels.

Next most obvious items auctioned are government contracts and tenders. The government does not have time to approach each individual company capable of handling its contracts and ask for their best price before deciding on an appropriate winner and hence it utilizes a sealed bidding contract system to call in proposals from each company at the same time deciding on the spot a winner.

Finally, livestock and produce are also sold in auctions because this fetches the highest possible price for them. When cattle, poultry, produce etc. are high in quantity, they can be sold together for a very high price to buyers who run supermarkets, grocery chains and slaughter houses.

In summary, anything that is high in demand, or expensive is usually auctioned off in auctions. In most cases, the auctioneers will be able to reap a profit.

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