Online auction platform:
The first electronic auction began in 1995 AD when a person displayed an old laser printer on the famous eBay site, where it was bid on by several individuals and sold at the highest price, which led to the continuation and growth of the electronic auction until online auctions were established and expanded until It has become what it is today, as many individuals prefer to bid through the Internet, for the ease of the matter, as the seller displays the product that he wants to display in the auction through an electronic auction platform, and bidding requests come to him through the people participating in the platform, which increases the chance of achieving the highest profit With minimal effort, the mzadat platform is one of the most important electronic platforms that provide you with online bidding.
Online auction:
The electronic auction is defined as an auction process that takes place through the Internet, where all the products that may come to your mind, antique and modern, are sold and bought. .
auction :
The public auction is the type of auction known in the past, as it is organized by an entity on behalf of the government, through which government property or property that the government expropriated from individuals is sold by a court ruling, and this auction takes place through a meeting held in a place and a number of people participate in it Individuals bid on the product until the highest price is reached.
Disadvantages of an auction:
An auction is a method of selling to promote the business or to satisfy the debtor. Public auctions can be conducted in one of two ways:
Selling certain items in public auctions through advertisements for merchants, commercial establishments, private companies, or government sector agencies and companies.
Or an executive judge announces a public auction, or enforces a court judgment against a bankrupt debtor, or enforces a court judgment relating to a lien lawsuit such as foreclosure lawsuits.
The method of public auction to achieve the interests of creditors and debtors is as follows:
It achieves the interest of the creditor by ensuring that the debtor's property is sold at the highest possible price, thus obtaining his full rights. Avoid crowding out other creditors if the price of the debtor's property is insufficient, as the proceeds of the sale will be shared with each creditor in proportion to his total debts.
The debtor's interest is achieved because the debtor who reaches the sale of his property is a bankrupt or insolvent debtor. As a result, he became a vulnerable group, the prey of speculators who, at the behest of creditors, tried to buy up his property at a low price. And the auction saves him from all this, so his possessions are sold at a fair price.
