Confusing Price Terms on Auction Sites
We often see newspapers, television, media reporters on Weibo, and buyers on the auction market confusing a few terms on the auction market. Today, I would like to talk about the expression of various prices on the auction market.
Some people have described the valuation of the auction listing as the auction floor price, or the starting auction price quoted by the auctioneer on the court floor. We often see the media's closing price on the auction floor when reporting the auction transaction. It is mixed with the price quoted by the auction company after the usual commission plus commission.
First of all, "the reserve price". As the saying goes, the “upset price†of an auction is often referred to as “reserve price†in auction terms, that is, the seller (seller) agrees to sell the lowest price of the auction item. According to the rules of the auction, the “reserve price†is not determined by the auction house, but is determined by the seller. At most, the auction house gives certain advice when the seller sets the “reserve priceâ€. In general, sellers always want to set a higher “reserve priceâ€. The people in auction houses always want to lower the price; sellers generally also require that reservation prices be kept confidential. As a result, many auctions, whether they are traded or streaming, have no way of knowing the exact auction “floor priceâ€. Therefore, the news media should not use the “upset price†to describe the auction, because reporters are unlikely to know the “upset price†that is undoubtedly determined, even if only a few talents, such as business executives and auctioneers, may know the lot. Reserve price"!
The “starting price†is the initial quotation quoted by the auctioneer on the court, generally lower than the “reserve priceâ€. This price is generally not determined by the seller, but is determined by the auction house based on the “reserve price†of the auction item and the number of bidders. The estimated transaction price and other factors were determined after the analysis. Even in most cases, the “starting price†is determined by the auctioneer on the court. It really is a skill and strategic price. After the auction began, the buyers all participated in several rounds of bids, but in the end it was still possible that they did not trade because they did not go to the “reserve priceâ€.
The "Auction Terminology" industry standard that was just approved by the National Standardization Administration Committee on January 1, 2012 defines the bid price of the auctioneer on the court as "transaction price", which is commonly known as the "falling price." After the auction of domestic and foreign art auctions, the transaction price that is customarily released is expressed by the actual price paid by the buyer. The upcoming price plus the commission for buying will be certain and practical. On the meaning. However, the problem is: People do not necessarily understand that there are still commission figures. There are sometimes different reports on the price of a single item. There are commissions and commissions, which will make everyone wonder what they are doing. The cloud can only determine whether or not to add commissions for purchases by whether the numbers are integers or not. At the same time, the auction commissions of various auction companies also vary greatly from 10% to 20%, and the media’s commission based on the transaction price is sometimes not practical. Therefore, I suggest that the media still have to call the "desolation price" on the court a "transaction price", especially when it is reported on the scene of an auction. After the report is understood and calculated, it can be added to the commission for buying. To be explained: This is in addition to the buyer's actual payment after buying the commission.
Under normal circumstances, the auction house will mark the market value of the lot with a price range, such as 2000024000 yuan. The previous figure can be called "low valuation" or "low valuation", and the latter price is called "up valuation" or "high price". Valuation." have to be aware of is:
1. The “valuation†of the auction item is not related to the “reserve price†of the auction item. The “reserve price†may be lower than the valuation range, perhaps higher than the valuation range, and may be more within the range. Therefore, the “reserve price†may not be exactly Equal to "under valuation";
2. The "valuation" has nothing to do with the starting price. The "starting price" may also be lower than the valuation range, or it may be within the range. However, there are not many cases where the "upstart price" is higher than the "upload price". Therefore, the "starting price" does not have to be equal to the "lower valuation."
3. For auction items with larger value-added space such as cultural relics and artworks, the “valuation†of auction items by the auction house is not necessarily consistent with the actual transaction. Therefore, it cannot be explained that the transaction must be within the valuation range or higher than this range. The “trading price†is lower than the “lower valuation†does not necessarily indicate that the auction is low!
It is only sometimes that auction companies set a "reserve price" for some auction items as "lower valuation" in order to save time and money, or that some auctioneer plans to start saving things, starting from the "lower valuation" will make people have a misunderstanding and feel that The “lower valuation†of each lot on the auction map is the “reserve price†of the lot or the “starting price†on the auction site. The valuation range is just a reference value for the market price of a lot.
On the auction site, the auctioneer will always quote according to a certain price increase law. The rate of each price increase is called the “price rangeâ€, and some people are also called the “price ladderâ€. It is the auctioneer’s plan to allow buyers to make fair bids and raise auction prices. A method used for efficiency. The auctioneer may also randomly increase or decrease the “bid price†at random, but the principle to follow is fairness and efficiency. Buyers' quotations can also be greater than the "price range" and "jump." They can also apply to the auctioneer to narrow down the "bid rate." This can be negotiated. In view of fairness, the auctioneer will let everyone bid according to a certain "price range." Once the auctioneer allows a certain buyer to reduce the "price range", in principle, it should also let others adopt the same new "price range"; considering the efficiency of the auction site, the auction can not be delayed without limit, so the buyer Too small “bid price†is often not recognized by the auctioneer.
Some people have described the valuation of the auction listing as the auction floor price, or the starting auction price quoted by the auctioneer on the court floor. We often see the media's closing price on the auction floor when reporting the auction transaction. It is mixed with the price quoted by the auction company after the usual commission plus commission.
First of all, "the reserve price". As the saying goes, the “upset price†of an auction is often referred to as “reserve price†in auction terms, that is, the seller (seller) agrees to sell the lowest price of the auction item. According to the rules of the auction, the “reserve price†is not determined by the auction house, but is determined by the seller. At most, the auction house gives certain advice when the seller sets the “reserve priceâ€. In general, sellers always want to set a higher “reserve priceâ€. The people in auction houses always want to lower the price; sellers generally also require that reservation prices be kept confidential. As a result, many auctions, whether they are traded or streaming, have no way of knowing the exact auction “floor priceâ€. Therefore, the news media should not use the “upset price†to describe the auction, because reporters are unlikely to know the “upset price†that is undoubtedly determined, even if only a few talents, such as business executives and auctioneers, may know the lot. Reserve price"!
The “starting price†is the initial quotation quoted by the auctioneer on the court, generally lower than the “reserve priceâ€. This price is generally not determined by the seller, but is determined by the auction house based on the “reserve price†of the auction item and the number of bidders. The estimated transaction price and other factors were determined after the analysis. Even in most cases, the “starting price†is determined by the auctioneer on the court. It really is a skill and strategic price. After the auction began, the buyers all participated in several rounds of bids, but in the end it was still possible that they did not trade because they did not go to the “reserve priceâ€.
The "Auction Terminology" industry standard that was just approved by the National Standardization Administration Committee on January 1, 2012 defines the bid price of the auctioneer on the court as "transaction price", which is commonly known as the "falling price." After the auction of domestic and foreign art auctions, the transaction price that is customarily released is expressed by the actual price paid by the buyer. The upcoming price plus the commission for buying will be certain and practical. On the meaning. However, the problem is: People do not necessarily understand that there are still commission figures. There are sometimes different reports on the price of a single item. There are commissions and commissions, which will make everyone wonder what they are doing. The cloud can only determine whether or not to add commissions for purchases by whether the numbers are integers or not. At the same time, the auction commissions of various auction companies also vary greatly from 10% to 20%, and the media’s commission based on the transaction price is sometimes not practical. Therefore, I suggest that the media still have to call the "desolation price" on the court a "transaction price", especially when it is reported on the scene of an auction. After the report is understood and calculated, it can be added to the commission for buying. To be explained: This is in addition to the buyer's actual payment after buying the commission.
Under normal circumstances, the auction house will mark the market value of the lot with a price range, such as 2000024000 yuan. The previous figure can be called "low valuation" or "low valuation", and the latter price is called "up valuation" or "high price". Valuation." have to be aware of is:
1. The “valuation†of the auction item is not related to the “reserve price†of the auction item. The “reserve price†may be lower than the valuation range, perhaps higher than the valuation range, and may be more within the range. Therefore, the “reserve price†may not be exactly Equal to "under valuation";
2. The "valuation" has nothing to do with the starting price. The "starting price" may also be lower than the valuation range, or it may be within the range. However, there are not many cases where the "upstart price" is higher than the "upload price". Therefore, the "starting price" does not have to be equal to the "lower valuation."
3. For auction items with larger value-added space such as cultural relics and artworks, the “valuation†of auction items by the auction house is not necessarily consistent with the actual transaction. Therefore, it cannot be explained that the transaction must be within the valuation range or higher than this range. The “trading price†is lower than the “lower valuation†does not necessarily indicate that the auction is low!
It is only sometimes that auction companies set a "reserve price" for some auction items as "lower valuation" in order to save time and money, or that some auctioneer plans to start saving things, starting from the "lower valuation" will make people have a misunderstanding and feel that The “lower valuation†of each lot on the auction map is the “reserve price†of the lot or the “starting price†on the auction site. The valuation range is just a reference value for the market price of a lot.
On the auction site, the auctioneer will always quote according to a certain price increase law. The rate of each price increase is called the “price rangeâ€, and some people are also called the “price ladderâ€. It is the auctioneer’s plan to allow buyers to make fair bids and raise auction prices. A method used for efficiency. The auctioneer may also randomly increase or decrease the “bid price†at random, but the principle to follow is fairness and efficiency. Buyers' quotations can also be greater than the "price range" and "jump." They can also apply to the auctioneer to narrow down the "bid rate." This can be negotiated. In view of fairness, the auctioneer will let everyone bid according to a certain "price range." Once the auctioneer allows a certain buyer to reduce the "price range", in principle, it should also let others adopt the same new "price range"; considering the efficiency of the auction site, the auction can not be delayed without limit, so the buyer Too small “bid price†is often not recognized by the auctioneer.
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