Veilingprijs

Veilingprijs refers to the final price at which an item is sold during an auction. This price is determined through a competitive bidding process where potential buyers indicate their willingness to pay. The highest bid submitted at the conclusion of the auction is accepted, and the item is awarded to that bidder at their offered price. The veilingprijs can fluctuate significantly depending on factors such as the desirability of the item, the number of interested bidders, and the overall market conditions. It is distinct from a reserve price, which is a minimum price set by the seller below which the item will not be sold, even if bidding reaches that level. If the highest bid is below the reserve price, the item is not sold, and there is no veilingprijs in that instance. Conversely, if there is no reserve price, the veilingprijs is simply the highest bid received. In some auction formats, the veilingprijs might also be referred to as the hammer price, as it is traditionally the price at which the auctioneer strikes the gavel.