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Auction

Definition updated on November 2023

What is an Auction?

An Auction is a public sale in which goods or properties are sold to the highest bidder.

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Mustard Yellow
What is Mustard Yellow in the context of fashion and design?
M
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Polka Dot
What is Polka Dot in fashion?
P
🧇
Waffle Knit
What is Waffle Knit in textiles?
W
👗
Vintage-inspired Styles
What are Vintage-inspired Styles in fashion?
V
👖
High-rise Jeans
What are High-rise Jeans?
H
🎆
New Year’s Eve outfit
What does a New Year’s Eve outfit entail?
N
🍸
Cocktail Dress
What is a Cocktail Dress?
C
🎉
Bachelorette Party Dress
What is a Bachelorette Party Dress?
B
👠
Girl’s Night Out
What is a Girl’s Night Out outfit?
G
🎶
Club Dress
What is a Club Dress?
C
💼
Professional Attire
What defines Professional Attire?
P
🎩
Formal Wear
What constitutes Formal Wear?
F
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Casual
What is Casual wear?
C
👔
Business Casual
What is Business Casual attire?
B
🌾
Linen
What is Linen as a textile?
L
🐑
Merino Wool
What is Merino Wool in clothing?
M
🖤
Velvet
What is Velvet in fabric?
V
👶
Baby Fit
What is Baby Fit in fashion?
B
🦓
Ribbed
What is Ribbed fabric in fashion?
R
🧣
Classic Knit
What defines Classic Knit in fashion?
C
🔅
Open Knit
What is Open Knit in clothing?
O
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Cable Knit
What is Cable Knit in garments?
C
▼
Chevron
What is Chevron in patterns?
C
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Plaid
What is Plaid in textile designs?
P
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Striped
What does Striped mean in fashion patterns?
S
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Burgundy
What is Burgundy in the context of color in fashion?
B
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Wine Red
What does Wine Red signify in clothing?
W
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Maroon
What is Maroon as a color in fashion?
M
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Oversized
What does Oversized mean in clothing styles?
O
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Big and Tall Size
What is Big and Tall Size in clothing?
B
👗
Plus Size
What is Plus Size in fashion?
P
🇺🇸
American Vintage
What is American Vintage?
A
📷
Vintage
What is Vintage?
V
🚀
Exclusive Release
What is an Exclusive Release?
E
👟
Limited Edition Sneakers
What are Limited Edition Sneakers?
L
⌚
Antique Watches
What are Antique Watches?
A
👚
Vintage Clothing
What is Vintage Clothing?
V
💎
Luxury Goods
What are Luxury Goods?
L
👗
High-end Fashion
What is High-end Fashion?
H
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Resale
What is Resale?
R
💻
Online Bidding
What is Online Bidding?
O
⚔️
Bidding War
What is a Bidding War?
B
🏛️
Auction House
What is an Auction House?
A
📈
Overstock
What is Overstock?
O
🧾
Inventory Liquidation
What is Inventory Liquidation?
I
🏷️
Consignment
What is Consignment?
C
📦
Dropshipping
What is Dropshipping?
D
💻
Online Sales
What are Online Sales?
O
🔁
Retail Arbitrage
What is Retail Arbitrage?
R
💲
Competitive Pricing
What is Competitive Pricing?
C
🎯
Core Competency
What is Core Competency?
C
📊
Marketshare
What is Marketshare?
M
🛍️
Thrift
What is Thrift in the context of retail?
T
🖼️
NFT
What is an NFT?
N
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Facebook Marketplace
What is Facebook Marketplace?
F
⛓️
Supply Chains
What are Supply Chains?
S
💻
Ecommerce
What is Ecommerce?
E
🔨
Auction
What is an Auction?
A
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Trade
What is Trade in economics?
T
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Retailer
What is a Retailer?
R
⚖️
Marché Gris
Qu'est-ce que le marché gris ?
G
📦
Wholesale
What is Wholesale?
W
💱
Exchange
What is an Exchange in commerce?
E
🛒
Mercado
What is a Mercado?
M
🛑
Black market
What is the Black Market?
B
👷
Labor market
What is the Labor Market?
L
🌳
Gumtree
What is Gumtree in the context of online marketplaces?
G
📉
Monopsony
What is a Monopsony?
M
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Seller's market
What is a Seller's Market?
S
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Buyer's market
What is a Buyer's Market?
B
💸
Sale
What is a Sale in commerce?
S
🌐
Global
What does Global mean in economic terms?
G
🛒
Consumer
Who is a Consumer?
C
🏭
Industry
What is an Industry?
I
📣
Commercial
What is Commercial in business?
C
🛍️
Retailing
What is Retailing?
R
🛒
Mart
What is a Mart in retail?
M
🏛️
Agora
What was an Agora in ancient civilizations?
A
📈
Oligopoly
What is an Oligopoly?
O
⚡
Outlet
What is an Outlet in commerce?
O
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Craigslist
What is Craigslist in the context of online marketplaces?
C
🛍️
Bazaar
What is a Bazaar in commerce?
B
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3P – Third-Party Sellers
What is the role of 3P (Third-Party) sellers on e-commerce platforms?
T
👥
1P – First-Party Sellers
Who are 1P (First-Party) sellers and how do they operate on e-commerce platforms?
F
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WS - Wholesale
What is the meaning of WS (Wholesale) and how does it relate to product distribution?
W
👥
VC – Vendor Central
What is VC (Vendor Central) and how does it relate to Amazon's vendor management platform?
V
⚪
WL – White Label
What is WL (White Label) and how does it apply to products and branding?
W
🔤
UPC – Universal Product Code
What is a UPC (Universal Product Code) and how does it contribute to product identification?
U
👤
VA – Virtual Assistant
What is a VA (Virtual Assistant) and how do they support various tasks and operations?
V
🔖
SKU – Stock Keeping Unit
What is an SKU (Stock Keeping Unit) and how does it uniquely identify products?
S
💬
RFQ – Request for Quote
What is an RFQ (Request for Quote) and how does it facilitate procurement and sourcing?
R
🚚
SFP – Seller Fulfilled Prime
What is SFP (Seller Fulfilled Prime) and how does it allow sellers to offer Prime benefits?
S
🔍
SEO – Search Engine Optimization
What is SEO (Search Engine Optimization) and how does it impact website visibility and traffic?
S
🏪
SC – Seller Central
What is SC (Seller Central) and how does it serve as a hub for Amazon sellers?
S
💰
ROI – Return on Investment
How is ROI (Return on Investment) calculated and used to evaluate business performance?
R
🛍️
RA – Retail Arbitrage
What is RA (Retail Arbitrage) and how does it play a role in e-commerce strategies?
R
💲
PPC – Pay-per-Click
What is PPC (Pay-per-Click) and how does it work in digital advertising?
P
👤
PL – Private Label
What is PL (Private Label) and how does it apply to products in the market?
P
🏭
OEM – Original Equipment Manufacturer
What is an OEM (Original Equipment Manufacturer) and how does it fit into the supply chain?
O
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PED – Prime Exclusive Discount
What is a PED (Prime Exclusive Discount) and how does it benefit Amazon Prime members?
P
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