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A government auction or a public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government or property which is sold under the authority of a court of law or a government agency with similar authority. [1] [2] [3]
One of the most popular online auctions to buy cars from is eBay Motors. [13] On eBay Motors, any user can create an account and put their vehicle(s) up for auction even if they are from a state that only allows closed auctions. There is usually a fee associated with selling a vehicle on eBay. [14]
A fixed-price contract is a contract where the contract payment does not depend on the amount of resources or time expended by the contractor, as opposed to cost-plus contracts. Fixed-price contracts are often used for military and government contractors to put the risk on the side of the vendor and control costs.
Government or contractor ability to prepare cost or price estimates for vague work statements is severely limited; accordingly, the Government will negotiate a labor rate, number of people and individual qualifications for the requirement given that is the only feasible way to get an idea of cost.
Deals on vehicles and jewelry through a U.S. government auction website were a steal in more ways than one: An Oklahoma man pleaded guilty to hacking a website to buy the items for $1 each ...
In contrast, if the seller does not announce the reserve price before the sale, it is a secret reserve price auction. [64] However, potential bidders may be able to deduce an approximate reserve price, if one exists at all, from any estimate given in advance by the auction house. The reserve price may be fixed or discretionary. In the latter ...