An auction is one of the best ways to allocate goods and/or resources and to sell them using an Accelerated Marketing Method in an expedient and timely manner. Auctions are an excellent method of distributing goods to buyers who value them most. By creating an atmosphere of buyers interested in fulfilling their wants or needs, sellers are satisfied by being compensated for goods or resources that are valued by others in the marketplace

Auctionable resources can be nearly anything from property, estates, livestock, technology, jewelry, automobiles, etc. The list goes on and on. To state it simply, it is a method of allocating scarce goods in a competitive market. Balance of competition is created in the desire for the seller to obtain as much money as possible and the buyer to pay Fair Market Value, thus, a pure market. An auction can be seen as a pure marketplace at work in its finest form!

Auctions offer simplicity in the valuation of items or resources. Auctions are efficient in the sense that both the Bidders and the Sellers benefit. Auctions usually ensure that the bidder who values the items most highly will benefit from the sale by obtaining the items. The seller, in turn, will benefit from the combination of bidders who value the same items and drive up their value to an adequate market valuation.

Auctions offer flexibility. By allowing the market to value the items being sold, auctions allow the seller flexibility not realized by setting a fixed price. This also is less time consuming or expensive then price negotiating. An auction offers competing bids virtually simultaneously, while negotiating consists of a number of offers and counteroffers.

To summarize, auctions are an effective, convenient, and efficient way to allocate goods or resources in a pure marketplace, in a timely manner, with little effort on the sellers part.