| An auction is a process where people buy and sell | | | | group of bidders in Venice to experience the thrill of |
| items and objects for a bid. People also propose bids | | | | auctions held here. |
| and sell items to the highest offer or bid. Value of an | | | | Auctions are held for sale of antique furniture, |
| item is pre-determined at some auctions. There is no | | | | paintings by renowned artists and are sold at such |
| sale if the price of an item does not reach the | | | | auctions. Several potential buyers are invited to such |
| expected price. In actual sense, it can be said that an | | | | auctions and these bidders and buyers bid for their |
| auction bid is an offered price. | | | | prices and items they like. Auctioneers quote the |
| Auctions are mostly held publicly but can also be | | | | starting price and decide on the best rate for the |
| private. One of the famous auctions held in Venice is | | | | item. Many auctions are held to sell historic and |
| the Venice Art Walk and Auctions. It is an annual | | | | antique items of furniture and other articles that |
| event held in the West Coast's premier. It brings | | | | belonged to famous people. |
| together some of the talented and famous artists in | | | | Various bidders come from all over the world to |
| Venice. Many of these artists also arrive from | | | | Venice to bid for items. There are special hotels |
| Southern California. Several artists have made a mark | | | | where auctions are likely to be held. These hotels |
| for themselves in the market. A maximum of 60 | | | | may also accommodate people who are participating |
| artists' studios and special exhibits are held. | | | | in the auction proceedings or may provide |
| Many self-guided architectural tours, spa getaways, | | | | transportation to another venue. People who are |
| and other attractions include coupons to restaurants. | | | | over the age of 18 are allowed to bid. There is a |
| A festive spirit fills the atmosphere of the Silent Art | | | | special registration fee charged for people who take |
| Auction. Individuals and tourists may like to join the | | | | part in auctions. |