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Auctioning: How Ridiculous It Can Be
Auctioning can be ridiculous at times, but as a whole it can give benefits to needy recipients.
I first heard of auctioning when I was in high school as a research topic. I've never been to auction houses, but my sister is.
Surplus products from Japan and neighboring countries of the Philippines often drop bulk products to be auctioned at very low prices. She and her friends paid a membership fee of P500 pesos ($10 dollars) just to be a legitimate member of that auction house. Whenever there's new products that are available, they are contacted to participate for the bidding. Electronic gadgets, kitchenware, designer clothes from Japan were offered for bidding. I gave her my money for a cooler that was available at the time. So far, so good, it's still functioning, and it's specially useful during summer.
Auctioning moved into another outlet. If you don't like the euphoria of participating in actual bidding, you can do it online. eBay is considered the largest auction site online. You don't have to hear the sound of the gavel of the auctioneer. Once you closes a transaction, you can pay it through your bank account with a PayPal connection. Some items may need other kind of transaction.
The government also sponsor series of auction sales especially for the imported goods that are apprehended by the Customs department.
Charity institutions and foundations use auctioning to finance their beneficiaries, like the orphaned children and elderly.
Bidding will have a ceiling price for a particular item. It can even reach into millions if the particular item is so hot for the night. Most of the priceless items like famous paintings of long ago are usually grabbed by the rich families. Imagine having paintings and other masterpieces of Da Vinci, Picasso, Van Gogh, Rembrandt, Monet, Raphael, Michelangelo. Well, you'll be the talk-of-the-town or can be a target of burglars who have their eyes on those rare pieces.
Museums have their auction houses for those priceless items. Since there is only one original copy on many rare pieces, some of the auctioned items are displayed at the galleries of international museums.
Then, Hollywood celebrities make famous of auctioned clothing and other paraphernalia...shoes, bling-blings and other trivialities, such as napkin and the famous sandwich of the King, Elvis Presley.
And now at Julien's auction house at Los Angeles, California, USA, Michael Jackson-The King of Pop's Thriller Jacket was sold for amazing $1.8 million dollars!
Ridiculous but true. We don't have control of those collectors who pay huge sum just to get a piece of the favorite personalities.
The link to 16 Highest Selling Items in the World
I'm linking you to the list of of the 16 Highest Selling Items in Auction History where you can see those famous and controversial items that were sold to lucky bidders with lots of money that were spent just to acquire and own it.
In random list, it included: The Codec Leicester of Leonardo Da Vinci (his scientific writings), the famous sculpture of Swiss Alberto Giacometti, the abstract painting of American Jackson Pollock, the controversial and highly-disputed U.S. wireless spectrum (where analog broadcasting was gradually changed by digital broadcasting), the 1936 model car of Bugatti (designed by Jean Bugatti), the highest selling chair, badminton cabinet, diamond to mention a few.
For the affluent, they can do a lot with the use of their money.
I'm poor so, I'll just write and share it for you.