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Tel: (8610)66573660
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Fax: (8610) 66575558 |
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| ROOM B812, FOCUS PLACE, 19 FINANCIAL STREET, WEST
DISTRICT, BEIJING 100032, CHINA |
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| (1) Auction |
 1.
what is auction?
Auction is a method of selling things in which each
item is sold to the person who offers the most money for
it.
2. The qualification of auction
(1) the auction properties
(2) more than two bidders
(3) the factors of price competition in biddings
(4) price competition carry out in the buyers
(5) auction must be though the intermediary-- organization-Auction
Company
3.The principle of auction
publicity, equity, justice and honesty.
(1)Auctioneer: is the auction unit
and engaging in auction activities.
(2)
1,strike a bargain: the auctioneer
may get the commission and reasonable costs expended by
auction from the seller.
2,not strike a bargain: the auctioneer
may get the conventional fees from the seller, or get
reasonable costs expended by auction from the sellor
4.Seller(also called Trustor)
The seller is a natural person, a legal person or
other orgnization that entrust the auctioneers to sell
properties. The seller is the owner of the auction lots
or the deputy of it.
5.Bidder:
the bidder fefers to the natural person,the legal person
or other organization that participate the bidding.
6.The buyer:
person who purchase the lots with highest offer. |
| (2) Auction Mode |
1. The English system
The English system is that the auction starts at a low
price and the bidders keep raising their bids, the last
bidder is the purchaser.
2. the Dutch system
The Dutch system is that the auction starts at a high
price and the bidders keep decreasing their bids, the
last bidder is the purchaser.
3. The auction with a reserve price
Before the auction, the seller and the auctioneers together
fixed a reserve price by signing a contract after consultation.
During the auction, if the last bidder has not reaches
to the reserve price, then it cannot be a deal anymore.
4. The auction without a reserve price
Before the auction, the seller and the auctioneers need
not fix a reserve price by signing a contract after consultation.
During the auction, the last bidder is the purchaser.
5. Sealed bidding auction (called Bidding auction)
Refers to the form that the auctioneers announce the specific
situations and requirements about the auction-lot in advance,
then the bidders submit the bid to auctioneers within
the designated period£»The auctioneers open
the bids in public on the former-fixed data and select
the most appropriate candidates after comparison. |
| (3) REAL ESTATE FAQ |
| Refers to all properties whose ownership
or usufruct can be attorned through the auctions. |
| (4) the commission |
The auctioneer and the client determine
the rate of commission.
If the commission is not determined beforehand, the auctioneer
can charge the client for a commission of no more than
5% of the purchase, or a pre-determined fee when object
not purchased. On any other occasion, the auctioneer can
charge a reasonable fee for the cost of the auction. |
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