What Is The Selling Price Of Auctions? Know Understanding, Function, Types And How It Works

Illustration of the auction (Doc. Djkn Kemenkeu)

YOGYAKARTA What is the selling price of the auction? The selling price of the auction is the highest offering price proposed by the auction participants.

Auction itself is a buying and selling activity of objects or services offered to many people. The auction participant who submits the highest offer has the right to get the goods or services. For more details, let's understand what the selling price of the auction is and its functions, types and ways of working below.

Adapted from the official DJKN website of the Ministry of Finance, Wednesday, April 26, 2023, the selling price of the auction is the highest offering price proposed by the Auction Participants which has been ratified as winners by the Auction Official.

According to the Regulation of the Minister of Kuangan Number 213/PMK.06/2020 concerning Guidelines for the Implementation of Auctions, it requires the limit value in each auction.

The limit value is the minimum value of the goods to be auctioned and determined by the seller.

The determination of the limit value is the responsibility of the seller, and it is determined based on an assessment by the assessment team or the appraiser. After the auction was held and the auction winner was determined by the auction official, the auction price was obtained.

In Article 6 of the Law on Rights (UUHT), the limit value is determined with the highest range equal to the market value and the lowest is equal to the liquidation value.

As mentioned above, the auction is an activity of buying and selling objects or services offered to many people. Auctions have two functions, namely private and public.

Public functions are formed if there is a special instrument in general accusations of government by state apparatus. This function is related to:

While the private function includes buyers and sellers. This has nothing to do with one thing in economic activity.

Broadly speaking, the auction is divided into two, namely an auction based on bids and law. The following is the explanation of the two types of auctions.

1. Auction based on bid.

Based on the offer, the auction is further divided into several kinds, including:

2. Based on the law

Based on the applicable law, the auction is divided into three, namely:

An auction activity can be held in a place or event. However, in an increasingly advanced era, many auction events were held online via social media.

Here are the reasons for how the auction works:

That is information about what the selling price of the auction is and its functions, types, and how it works. To get other interesting news, keep reading VOI.ID.