DHIANA HARDIATI (044127372)

Question:
After studying the first Session Topic entitled Auction and also read the additional
material. Based on your own opinion, what kind of Auction that happened in
Indonesia? Explain your reason and give the example of Auction in Indonesia!
Answer:
An auction is a sales event wherein potential buyers place competitive bids on
assets or service either in an open or closed format.
In an open auction, parties come together at a physical venue or online exchange to
bid assets. That’s mean people who attend the auction is known all the bid.
And closed format auction that’s mean only the seller who known the bid from
bidders. So, the high bidder paid the high bid. Typically it’s goverments that use
closed format auction, sometimes large corporations will also use closed format
auction.
In my opinion the kind auction that happened in Indonesia is an open auction
because it’s can minimize a cheat, and in open auction bidders are aware of the
other auction.
The example auction in Indonesia is in shoope market place. We can open shoope
live in shoope app, and then who can be faster and give highest price will become
the winner.
And the other example is, painting aution trhough live action in Gianyar Bali
(01/05). In the auction mechanism. Bids are made directly with up and down bids.
The auction in that day was also conducted by bidding without the presence o
participant, namely bidding by telephone using live auction internet technology.