Auction facts for kids

An auction is a special event where people buy and sell things. It's like a competition to see who will pay the most for an item. The person who offers the highest price gets to take the item home!

When you want to buy something at an auction, you make an offer called a bid. The person in charge of the auction is called the auctioneer. They usually use a small hammer to show when a bid is accepted.

Some auctions let you make only one bid. Others let you change your bid if someone else offers more money. There's also a different kind of auction called a Dutch auction. In a Dutch auction, the auctioneer starts with a very high price. Then, they slowly lower the price until someone makes a bid. That person then buys the item.

Auctions on the Internet

Recently, people have also started to do auctions online. This means you can buy or sell things from your computer or phone! The most popular online auction place is EBay.

Benefits of Online Auctions

Online auctions have many good points:

• Always Open: You can place bids at any time, day or night. This makes it very convenient.
• No Borders: Sellers and buyers can join from anywhere in the world. All you need is internet access. This saves money on travel.
• Fun to Play: The excitement of bidding can be a lot like a game. Some people enjoy the competition more than just buying.
• Lots of Buyers: Many people join online auctions. This is because prices can be low, there are many items, and it's easy to use.
• Many Sellers: Because there are so many buyers, many sellers also use online auctions. Selling costs are often lower too.

Things to Watch Out For

Just like garage sales or flea markets, online auction sites can sometimes have problems. It's important to be careful when buying or selling online.

Playing Fair at Auctions

Sometimes, people might try to fake bid. This means someone bids an amount but doesn't actually plan to pay for it. They might do this just to make other people bid higher. This can cause others to pay more money than they wanted. It's generally not a good thing to do and is frowned upon by others.

Images for kids

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  Wool buyers' room at a wool auction, Newcastle, NSW

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  A Peep at Christies (1796) – a funny drawing of actress Elizabeth Farren and huntsman Lord Derby looking at paintings at Christie's, by James Gillray

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  An auction in the late 1800s at the Hôtel Drouot, Paris (painting by Albert Bettannier).

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  Artemis, an ancient Greek marble sculpture. In 2007, a Roman-era bronze sculpture of "Artemis and the Stag" was sold for a huge amount of money, setting a new record for an ancient sculpture.

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  An auctioneer and helpers looking for people who want to bid

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  A 1957 Dutch auction in Germany to sell fruit.

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  A slave auction (historical image)

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  An estate agent, John Morrisby, selling a house at auction in Melbourne, Australia.

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  A list of properties in Pima County, Arizona that are being auctioned because of unpaid taxes.

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  Grass-fed cattle at auction, Walcha, NSW

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  A farm clearing sale, Woolbrook, NSW, where farm items are sold.

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  Tuna auction at the famous Tsukiji fish market in Tokyo.

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  A fish auction in Honolulu, Hawaii.

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  An 18th century Chinese meiping porcelain vase. Porcelain has been sold at art sales for a long time. In 2005, a 14th-century Chinese porcelain piece sold for a record amount.

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  Duo Yun Xuan auction house in Malacca, Malaysia.

See also

In Spanish: Subasta para niños