‘come under the hammer’ or ‘fall
under the hammer’ are phrases which refers to something being auctioned. The
word "auction" is derived from the Latin augeō which means "I
increase" or "I augment".
In market, there are fixed price shops and there are shops where you
bargain, buy in the end and still rue thinking that you could have bought for a
lower price !! An auction is a process of buying and selling goods or services
by offering them up for bid, taking bids, and then selling the item to the
highest bidder, though there are some variants too….
Ever participated in an auction; and do
you know Richard Madley, who earned a lot selling players ~ yes, not things but
Cricketers. Richard Madley, who lives in
Biddestone and works for Dreweatts in Bristol, did it in 2008 for Indian Premier League, when
8 teams spent over $40 million in eight hours to ‘own’ 75 best cricket players
in the world; he was back in 2011 and again
on 4th Feb 2012 conducting the
IPL Player Auction 2012, at the ITC Royal Gardenia Hotel, Bengaluru. Not sure whether things would change after the dismal
performance of India
With all speculations, the player auction
ahead of the Indian Premier League's sixth season is to be held on February 3. The
decision was conveyed to all nine franchise representatives during a workshop
in Jodhpur India 's
one-day series against England
The glitzy IPL is considered to be World’s
showcase of T20; the richest cricket tournament being held. On November 2012 with a bid of Rs.396.8 crores,
Pepsi won the title sponsorship of the Indian Premier League (IPL) for the next
five years. The league will now be called the Pepsi IPL from its sixth season. IPL
2012 saw 9 teams featuring in the edition after the termination of the Kochi
For IPL 2013, no Deccan Chargers, which is
now Sunrisers Hyderabad owned by Sun TV.
It is reported that Sun TV network had
bid Rs 85.05 crores per year for a five-year deal, a week after Deccan Chargers
was terminated due to prolonged financial issues. For the new franchisee, Tom Moody, the former Sri Lanka coach and Australia
Now, going back to Auction – the open
ascending price auction, the most common form where participants bid openly
against one another is called English auction. There can be a prescribed minimum bid from
where the auction starts; there is also the descending price auction, called
Dutch auction. In this, the auctioneer
begins with a high asking price which is lowered until some participant is
willing to accept the auctioneer's price. There is also sealed first-price auction where
all bidders simultaneously submit sealed bids so that no bidder knows the bid
of any other participant.
On the auction that shook India violently
~ the 2G spectrum auction, there is fresh news that the Empowered group of
ministers (EGoM) on spectrum, headed by P Chidambaram, is likely to meet next
week to decide on the critical issue of compulsory participation of existing
telecom companies like Bharti and Vodafone in the upcoming auction of
second-generation (2G) airwaves according to NDTV. The government will auction
the GSM (global system for mobile communications) spectrum in 900 MHz and 1800
MHz bands together for the Delhi, Mumbai and Kolkata circles, sometime in March
next year.
With regards – S.
Sampathkumar .
28th Dec 2012.
YES IPL has been great deviation for some cricketers But it's been lifeline for some of them.. Most of us might agree with me that it has entertained us and even have increased interest in One day cricket and Now the pace of Test and One-day Games have fastened.Scores of 300 in one-day is easily scored and chased.
ReplyDelete