An auction is the process of buying and selling things by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction is a method for determining the value of a commodity that has an undetermined or variable price. Auctions can be with reserve or minimum, or without minimums, or absolute or no reserve. In reserve auctions, there is a minimum bid or reserve price; if the bidding does not reach the minimum, there is no sale (but the person who puts the item up for auction may still owe a fee to the auctioneer or auction company). In absolute or no reserve auctions, the sale is guaranteed, with only the price left to be determined. In the context of auctions, a bid is an offered price.
Auctions are publicly seen in several contexts and almost anything can be sold at auction. Some typical auction arenas include the following:
Although less publicly visible, the most economically important auctions are the commodities auctions in which the bidders are businesses even up to corporation level. Examples of this type of auction include:
Tools and Equipment :: Media Production

Discovery Resources - Broadcast, professional, and industrial equipment brokers.
Meta Description: [ Discovery Resources brokers and rents broadcast, professional, and industrial equipment. Our company assists our customers to both buy and re-market pre-owned gear. Our services provide a dependable and secure environment, insure quality and expedite the process of delivering the right equipment ... ]
Maze Corporation - Resellers of used and pre-owned television broadcast and professional video production equipment. Piecemeal or complete factory liquidations, brokering and cash buyouts.
Meta Description: [ Liquidating & re-marketing used & pre-owned, broadcast & professional, video &
television production equipment for over 32 years. Video asset liquidation. CLICK HERE ]
New Pro Video Systems Inc. - Locates, buys and sells pre-owned broadcast and pro video gear world-wide. View site in English or Spanish.
Meta Description: [ New Pro Video, a broadcast and production equipment sales company, specializes in buying and selling new and used professional equipment for video and television production. ]
Pro Video and Film Equipment Company, Inc. - Pre-owned motion picture, video, lighting, audio, grip, and specialty production equipment.
Meta Description: [ We sell and lease used professional video and film equipment ]
The Greene Sheet, Inc. - A used video equipment brokerage for professional and broadcast video, film, audio and multimedia equipment.
The Hi-Tech Trading Company, Inc. - Established in 1982, a full service equipment brokerage firm that buys, sells, and trades new and used broadcast and industrial equipment to the video production industry.
Meta Description: [ videoequipment.com is Hi-Tech Enterprises Inc Professional broadcast Video Equipment and we specialize in buying and selling new and used broadcast industrial professional video equipment. We have the right tools for your video productions. We also build custom non-linear video editing computers ... ]
UsedTvGear.com - Used television, video and audio equipment.
Meta Description: [ Free Domain Forwarding! Free Change of Ownership! Free Parked page w/ domain! Free Domain Name Locking! We also offer many more options, just visit credoNIC.com for more information. ]
Visual Systems - New and used video and film equipment sales. Telecines, VTRs, switchers, nonlinear, effects, and film gear.
Meta Description: [ Used video equipment and used film equipment sales-a World Leader:best source for telecines, VTRs, switchers, nonlinear, effects, film gear. ]
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