News About Auctions Business

The News Review:

- Wireless Auction Unlikely to Shift Carrier Balance
- Home owners skip auctions as gloom sets in
- eBid Founder Goes from Stockbroker to Auction Entrepreneur
- The aura around Indian art

Wireless Auction Unlikely to Shift Carrier Balance
PC World – Apr 6, 2008
government’s 700MHz auction concluded last month to roll out services a cut above what they offer today, though how fast they are for subscribers will be up to the carriers. New Broadband TechnologyBoth service providers will use the frequencies, at least in part, for LTE (Long-Term Evolution), an emerging mobile broadband technology sponsored by the organization that backs GSM (Global System for Mobile Communications). AT&T said the licenses would provide the foundation for rolling out HSPA+, a technology further along in its development, as well as LTE.

Home owners skip auctions as gloom sets in
The Age – Apr 6, 2008
Tim Lawless, RP Data’s residential research director, said low clearance rates and lacklustre bidding were turning vendors away from auctions as the preferred method of sale, a process that was likely to accelerate as overall supply levels were set to increase. "If there’s not a lot of bidders in the marketplace, then the whole function of the auction, which is maximising the price through competition, doesn’t work appropriately," Mr Lawless said. "A lot of people will go towards private treaty sales purely because there isn’t as much demand. "Auctions accounted for nearly one-third (30%) of all sales activity in last year’s boom conditions, up 10 percentage points on the weaker market of 2004-2005, according to the Real Estate Institute of Victoria.
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eBid Founder Goes from Stockbroker to Auction Entrepreneur
Auctionbytes – Apr 6, 2008
” In the field of ecommerce, that phrase could describe the dream of entrepreneurs to carve out a thriving online auction business despite the looming shadow of the Really Big Gavel: eBay. Mark Wilkinson was repeating a variation on the Field of Dreams mantra to himself back in 1998 when he started UK-based eBid (.

The aura around Indian art
Hindu – Apr 6, 2008
With government policies restricting the flexibility of dealing with antiques, it was inevitable that all the buying and selling would focus on contemporary art. Tyeb Mehta’s “Mahishasura” sold for $1. 5 million at a Christie’s auction in New York three years ago to a relatively unknown Indian private collector at that point, the hedge fund manager Rajiv Chaudhri. This singular event is significant on two levels. One is that it brought to light the fact that Western patrons have been collecting contemporary Indian art since the 1950s. Important families such as the Herwitz and personalities such as Harold Leventhal supported majority of the artists who sell for record prices at auctions today… This opened up a new financial opportunity to take advantage of in an economy that continues to be globally competitive. Early years

An early vibrant domestic market for contemporary Indian works existed since the 1980s. While there were virtually no lots at international auctions during the late 1980s and early 1990s the number of lots increased for most artists in 1996 and 2001. However, virtually none of the works were sold. The growth of the market since 2000 has been attributed to increasing media attention and publicity within and outside India. In her book, 101 Contemporary Indian Artists, Amrita Jhaveri argues that this has led to an `elevated awareness across borders, widening the buyer and collector base’. However the dialogue between India and the West in terms of scouting and collecting contemporary art goes back into the late 1940s and early 1950s.
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