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Auction Kings is a reality television series produced by Authentic Entertainment for the Discovery Channel. The series premiered on October 26, 2010, taking place in the Atlanta [1] auction house Gallery 63 in Sandy Springs, Georgia, located on Roswell Road immediately north of the Atlanta city limit. [2] The gallery has since relocated.
A Vickrey–Clarke–Groves (VCG) auction is a type of sealed-bid auction of multiple items. Bidders submit bids that report their valuations for the items, without knowing the bids of the other bidders. The auction system assigns the items in a socially optimal manner: it charges each individual the harm they cause to other bidders. [1]
A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction. [1] In this type of auction, all bidders simultaneously submit sealed bids so that no bidder knows the bid of any other participant. The highest bidder pays the price that was submitted. [2] : p2 [3]
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