In basic term we understand an auction as a public sale
where a property is sold at a specific time and place to a bidder. Most
auctions require a person to get a bidder number or other identifying item
prior to bidding. An item usually is started with low bid to higher until an auctioneer raises the bid amount every time someone bids till there is no more bids on that item to the limited
time and sell the item to the highest bidder.
Similarly a Farm Auction is also an auction specially conducted targeting the farmers as it
includes many Farm Equipments, cattles,
different varieties of crops, genetics and lands. Traditionally a farm auction
was usually conducted once in a year where farmers sells and buys the items in
the auction since it is very hard to conduct a farm auction as many farmers
should be participating in it. So, nowadays an online farm auction is very
popular among the farmers as it is very time efficiency we don’t have to attend
the auction physically or visit the farm. Many online auction sites are there on
internet to help you buy or sell your items with highest bid. As it is the web based we can easily post our items online
watch the bid and make sale fast and efficient. As some of the sites for farm
auctions are free of cost or in another term
no comission auctions. Where
as to conduct a traditional farm auction we have to pay higher management cost, transportation cost, product depreciation cost, and other unforeseen cost. And
there are many risk too in traditional farm auction including finding a buyer
or a seller or product on exact time when an auction is held. So, people prefer
online auctions rather than traditionally auctions as it is less time consuming,
easy to use and easy to find buyer and seller whenever you want to, all you
have to is post or bid.
