lelang

Lelang is an auction process in which goods or properties are sold to the highest bidder. It can be conducted in person, at venues such as auction houses or events, or online through digital platforms. Bidders place progressively higher bids until no higher offer is made, at which point the item is sold to the winning bidder at the accepted price. In many jurisdictions, auctions are regulated and may require a licensed auctioneer and clearly defined terms for sale, payment, and transfer of title.

Auction formats vary. English auctions feature open, ascending bids where participants publicly compete to offer higher amounts. Dutch auctions start with a high price that decreases until a participant accepts the current price. Sealed-bid auctions have bidders submit confidential offers that are opened later. Common elements include a reserve price (the minimum acceptable price), bid increments, and a buyer’s premium. The auctioneer administers the process, announces bids, and executes the sale on behalf of the seller. If the reserve price is not met, the item may remain unsold.

Lelang is widely used for art, antiques, real estate, vehicles, and other collectibles. Online lelang platforms have expanded access by enabling real-time bidding and automated proxy bidding. The practice is common in Indonesia and many other countries, often governed by local laws and regulations that address licensing, consumer protection, and fraud prevention. Buyers and sellers typically perform due diligence, review terms and conditions, set budgets, and ensure compliance with applicable legal requirements.