Action, silent and auction, hidden (silent auction)

Market participants willing to buy submit a price proposal for an offer. The bids received are examined at the end of the auction period and the highest bidder wins the item (auction at which previously submitted written bids of prospective buyers are opened and compared at the predetermined end of the auction. The highest listed bidder wins the item). – See auction, market, auction-determined, tender procedure.

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Professor Dr. Eckehard Krah, Dipl.rer.pol.
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