Property Auctions >> Property Auction Blogs >> Property Auctions: What is a silent auction?
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Tuesday, December 16, 2008
Silent auction technique is mostly used in charity events. A silent auction is conducted by setting up tables or displays of items or services upon which people can bid. A minimum bid is set when the item is of high value. Paper is located near the item, which allows people to write down their names and bids. This gives people a chance, during the event, to tour the different items available for auction and decide upon which items they would like to bid. In one sheet of paper all the previous bid amounts are written so that people participating in this type of auction know that they have to bid at a higher amount to get the item. Silent auction is nowadays offered in eBay, where people can bid for items and see the bids of others. In a silent auction no contact is made with the seller until bidding is finished.
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