Business

Bitcoins under the hammer in France

Governments might look askance at bitcoin, but it does not mean they do not want to cash in on its soaring value and France is set to pocket nearly $30 million from its first-ever action of the cryptocurrency, a minister ...

Telecom

Next 5G auction to feature large tracts sought by carriers

Regulators decided the next U.S. 5G airwaves auction will offer frequencies in portions covering millions of people, a plan backed by wireless giants thirsty for spectrum and opposed by cable providers leery of expensive ...

Business

Dutch government begins auction of 5G frequencies

The Dutch government started an auction Monday of new 5G wireless frequencies, with telecom companies bidding so they can provide customers with the faster mobile communication networks.

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Auction

An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction may refer to any mechanism or set of trading rules for exchange.

There are several variations on the basic auction form, including time limits, minimum or maximum limits on bid prices, and special rules for determining the winning bidder(s) and sale price(s). Participants in an auction may or may not know the identities or actions of other participants. Depending on the auction, bidders may participate in person or remotely through a variety of means, including telephone and the internet. The seller usually pays a commission to the auctioneer or auction company based on a percentage of the final sale price.

This text uses material from Wikipedia, licensed under CC BY-SA