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A silent auction is a unique fundraising method where items are displayed for bidding without an auctioneer's traditional fast-paced chant. Unlike a live auction, participants place bids on items using written forms, often accompanied by their names and bid amounts. The event typically occurs in a relaxed atmosphere, allowing attendees to peruse the items and submit bids discreetly, hence the term "silent auction."In this format, attendees write down their highest bid for the desired item, and at the end of the predetermined auc... more

In the exhilarating world of auctions, a term that often confounds newcomers is "auction buyers premium." This seemingly cryptic phrase holds significant importance and can impact your bidding strategy and overall cost. Essentially, the buyer's premium is an additional fee above the final bid price that buyers pay at auctions. While it might appear as an extra expense, comprehending its nuances is pivotal for astute buyers.Understanding the auction buyers premium involves grasping the dynamics of different auction houses and platform... more