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Auction (1)
AUCTION (1)

Definition: A public sale at which the goods are sold to the highest bidder.
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* All nine or ten elements, as applicable, should be in.


1. Purposeful and necessary.

2. Thing/good is available for visual inspection.

3. Thing/good is test-driven, tried, tasted or tested, as applicable, if possible and when necessary, in the presence of or by intended purchaser.

4. Thing, item or good is/was not stolen and is not proceeds from fraudulent or corrupt acquisition.

5. Conduct, and/or negotiation (if applicable), is or was fair, certain and fast, transparent, open and honest (straightforward process).

6. 'Conductor' is licensed !
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See perfect AUCTIONEER.
Below the Line
1. Payment was confirmed received before good is/was released to buyer. That is, cheque or cash was confirmed cleared or real, not dud or fake.
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See perfect BUYER'S REMORSE.


further below the line


1. Item bought is/was useful and serves/served the purpose, occasion, period, etc. and lasted for the duration expected.

2. Goods or things can/could still be passed on, by the user/owner after they have/had served their purpose(s). That is, item bought still has a residual value or can/would fetch a bottom dollar if it is to be resold or auctioned again.

3. (Reserved.)
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See perfect DUTCH AUCTION.

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