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  2. Ritchie Bros. Auctioneers - Wikipedia

    en.wikipedia.org/wiki/Ritchie_Bros._Auctioneers

    Ritchie Bros. Auctioneers was established in Kelowna, British Columbia, Canada. A Canadian company which the three Ritchie brothers – Ken, John and Dave Ritchie – took over the OK Used Furniture Store from their father in 1955. They entered the auction business in 1958 when they needed CA$2,000 to pay a bank debt on short notice.

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  4. Manheim Auctions - Wikipedia

    en.wikipedia.org/wiki/Manheim_Auctions

    Manheim, Inc. is an automobile auction company and the world's largest wholesale auto auction, based on trade volume with 145 auctions located in North America, Europe, Asia and Australia. As a subsidiary of Cox Automotive, a subsidiary of privately owned Cox Enterprises, Inc. based in Atlanta, Georgia, Manheim's primary business is wholesaling ...

  5. Buyer's premium - Wikipedia

    en.wikipedia.org/wiki/Buyer's_premium

    In auctions, the buyer's premium is a charge in addition to the hammer price (i.e. the winning bid announced) of an auction item, or lot. The winning bidder is required to pay both the hammer price and the percentage of that price called for by the buyer's premium. It is charged by the auctioneer in addition to the commission which has always ...

  6. Reverse auction - Wikipedia

    en.wikipedia.org/wiki/Reverse_auction

    A reverse auction (also known as buyer-determined auction or procurement auction) is a type of auction in which the traditional roles of buyer and seller are reversed. [1] Thus, there is one buyer and many potential sellers. In an ordinary auction also known as a forward auction, buyers compete to obtain goods or services by offering ...

  7. Phillips (auctioneers) - Wikipedia

    en.wikipedia.org/wiki/Phillips_(auctioneers)

    Mercury Group. Website. phillips .com. Phillips, formerly known as Phillips the Auctioneers and briefly as Phillips de Pury, is a British auction house. It was founded in London in 1796, and has head offices in London and in New York City. [1] In 2022 it was owned by the Mercury Group, a Russian luxury goods company. [2]

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