What is the auction process like, and the basic process of the auction?

The basic process of the auction is as follows:

1. Entrust auction, both parties sign a contract to standardize the responsibilities, interests and obligations of both parties;

2. Issue auction announcements, issue announcements on auction-related matters to the public, and expand the publicity and influence of auction activities;

3. Auction transactions, through bidding, bidding to find bidders;

4. When the auction is concluded, the auction items are delivered to the buyer, the buyer pays the price to the auctioneer, and the consignor settles the auction fee and price with the auctioneer.

Auction is a spot transaction method in which an auction house specializing in auction business accepts the entrustment of the owner of the goods, displays the goods to be auctioned to the buyer at a specified time and place, in accordance with certain articles and rules, bids openly, and finally sells the goods to the buyer with the highest bid.

Legal basis] Auction Law of the People's Republic of China

Article 44 The consignment auction contract shall specify the following matters:

1) The name and address of the consignor or auctioneer;

2) the name, specification, quantity and quality of the auction object;

3) the reserve price proposed by the client;

4) the time and place of the auction;

5) the time and manner of delivery or transfer of the auction object;

6) Commissions and the methods and deadlines for their payment;

7) the method and time limit of payment;

8) Liability for breach of contract;

9) Other matters agreed upon by both parties. Article 46 The auction announcement shall indicate the following matters:

1) The time and place of the auction;

2) the subject matter of the auction;

3) The time and place of display of the auction object;

4) The formalities that should be handled to participate in the bidding;

5) Other matters that need to be announced. Article 56 The consignor and the buyer may agree with the auctioneer on the proportion of the commission.

If the consignor, the buyer and the auctioneer have not agreed on the proportion of the commission, and the auction is concluded, the auctioneer may charge the consignor and the buyer a commission not exceeding 5% of the auction price. The proportion of commission charged shall be determined in accordance with the principle of inverse proportion to the auction price.

If the auction is not concluded, the auctioneer may charge the consignor the agreed fee; If no agreement is made, the consignor may be charged a reasonable fee for the auction.

Each auction house will have its own exclusive auction company, and the responsibility of the auction company is to sell the collection to the collector in the form of auction through the best price under the premise of ensuring the authenticity and reliability of a collection. Among them, the collection needs to go through three parties from the beginning of the transaction to the completion of the transaction.

Auction makes the value of the product better displayed, convenient and fast and has its own unique cultural significance.

The first step is to announce the rules, methods, and precautions for the auction; The second step is to conduct the auction in accordance with the previously announced auction method; The third step is to close the deal; Step 4: Sign the Auction Transaction Confirmation.

When auctioning something, the auction process: 1Call for lots. 2.Auction catalogue typesetting and printing. 3.Advertise. 4.Prepare for the auction.

First of all, the auctioneer has to pay a certain amount of security, and the bidding items are held in escrow by the auction house. Each time the bidder is higher than the previous bidder**.

The auction consists of four processes: 1. Issuing an auction announcement; The auction announcement shall be published at least 20 days before the auction date.

2. The bidder shall apply for registration and submit the qualification and identity documents, and pay the performance bond.

3. The auctioneer shall examine and verify the bidder's qualifications and credit standing in accordance with the requirements of the auction documents, and issue a bidding qualification certificate to the qualified applicant.

4. Public auction.

Entrusted auctions, auction announcements, auction transactions, auction transactions, and delivery of auction objects.