Jump to content

BUYING A COMPANY


zare666

Recommended Posts

Yes Coton like Ebay or any other auction is run you can see what the current bid is... I don't see current bids on companies here and think it would be better if we could.

Not exactly true. It is called a silent auction and is extremely common. Not all auctions are like e-bay. Common when bidding on foreclosed homes and in charity auctions.

Link to comment
Share on other sites

If you could see the bids everyone would just outbid the previous guy $1 at a time and the guy who was on 1 minute before bidding closed would win. It would either be a huge hassle checking every 2 minutes or even worse no one would bid until the last second picking up the business for peanuts. One of the best parts of doing it as a silent auction and a big reason charities like it is that if you don't know if you will win you tend to bid more. That takes more money out of the game which is a good thing.

Link to comment
Share on other sites

If you could see the bids everyone would just outbid the previous guy $1 at a time and the guy who was on 1 minute before bidding closed would win. It would either be a huge hassle checking every 2 minutes or even worse no one would bid until the last second picking up the business for peanuts. One of the best parts of doing it as a silent auction and a big reason charities like it is that if you don't know if you will win you tend to bid more. That takes more money out of the game which is a good thing.

Just wondering, are you allowed to set a reserve (minimum selling price) or does it just go to the highest bidder regardless of the price ?

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...