: Your company made a large quantity of bean bags that have not sold well in retail stores. How might you best use an auction to sell the excess merchandise? View
: A small business owner is trying to determine a selling price for a new product in a line of vintage-inspired wooden toys. She’s currently thinking of creating the product in-house for a cost of $18 and selling it for $30. Which of the following scenarios would result in the largest markup percent for her company? View
: The long-time supplier of vehicles for a taxi company is closing down. The taxi company is using a reverse auction house to run an auction for a contract with a new supplier. How might participation in this type of auction be beneficial to potential new suppliers? View
: Upon the retirement of the founder, a venerable men’s clothing store is closing and will auction all of its inventory, display cases, and signage. As someone with significant experience buying at English auctions, how might you advise potential buyers? View
: You’ve just been hired to help a European furniture firm with pricing decisions as it expands to an international market. How would you explain your strategy to your new colleagues? View
: On your first day on the job at a reverse auction factory, you’ve been asked to review auctions that are currently in the works or have recently closed. Which of the following scenarios would raise a red flag that there could be a problem? View
: You’re organizing a popular and well-attended charity auction. A local artist has donated a sculpture that you believe will be popular with some bidders but may not be universally valued. Attendees have indicated that they would like for their bids to be private. How would you structure the auction in order to try to get the highest possible profit on this piece? View
: Your daughter’s school is hosting an auction to raise money for classroom resources. They’re soliciting donations from local businesses. Items will be on display and bids will be accepted throughout a long evening of activities. Parents in this community are likely to flaunt income by making large bids. What type of auction would work best? View
: Your daughter’s school is hosting an auction to raise money for classroom resources. They’re soliciting donations from local businesses. The parents who will attend range in income from low to high, but because the community is small and close-knit are unlikely to make ostentatious bids. What type of auction would work best? View
