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Chinese auction is a type of the all-pay auction, where the probability of winning depends on the relative size of a participant's bid. [1] The choice of the winner is done by a lottery, whereby the bidders compete for a higher chance of winning. [1] It is also known as penny raffle, chance auction and tricky tray. [2] [3]
A common practice for increasing revenue from ticket sales is to offer bulk sales of tickets, e.g., $10 per single ticket or $25 for three tickets, although this practice is illegal in some countries. This practise is also known as Chinese auction. [1] In some places, (eg.
[1] [2] [3] It is particularly known for its sale of Chinese calligraphy and ink paintings. [4] [5] First founded in May 1993 by Chen Dongsheng, [6] China Guardian is China's oldest art-auction firm. [5] [7] China Guardian was a leader of the Chinese art auction market until the emergence of Beijing Poly International Auction Co Ltd in the mid ...
Another special case of a combinatorial auction is the combinatorial clock auction (CCA), which combines a clock auction, during which bidders may provide their confirmations in response to the rising prices, with a subsequantial sealed bid auction, in which bidders submit sealed package bids. The auctioneer uses the final bids to compute the ...
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Pages in category "Chinese auction houses" This category contains only the following page. This list may not reflect recent changes. T. Tian Cheng International
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