Most of The uninitiated ordinary person believes that an auction is an open auction of various valuable items: collectibles and antiques, examples of high art, precious items. But in fact, the auction procedure can be used to conclude contracts for the sale of goods for various purposes. For example, in international practice, auction sales of coffee, tea, valuable furs, other raw materials and finished goods are common.
The types and concept of an auction in Russia are similar to the concepts generally accepted in world trade. At the same time, Russian laws a list of goods prohibited for sale through auction is regulated. In this regard, entrepreneurs intending to purchase goods subject to duties and taxes through auctions should seek the services of appropriate specialists. This professional lawyers those working in the field, entrepreneurial activity and taxation.
All over the world there are specialized auctions that sell certain types goods. Thus, the most famous trading auction houses that have become famous all over the world - Sotheby's and Christie's - specialize in the sale of antiques, jewelry and art objects.
In addition to the concept of “auction trading”, generally accepted in world trade practice, in Russian legislation this term has legal meaning regulated by the relevant provisions and articles of regulations.
The Russian Civil Code defines the term “auction” as one of the types of public trading. In accordance with this code, all organizers and participants of auctions are subjects legal relations having corresponding rights and obligations.
The types and concept of an auction in Russia contain the following provisions that determine its nature:
- Open auctions are held in the presence of all persons wishing to take part in them.
- Closed auction - only a certain circle of people specially invited by the auction organizers are allowed to participate in it.
The most common form of auctions in our country is open electronic bidding, which will be discussed below. Auction organizers bear certain obligations towards potential buyers. This is a public notice of an auction in the event open bidding, or an individual invitation for a closed sales form.
Organizers are also obliged to compensate participants in closed auctions for all damage incurred in the event of sales failure due to the fault of the organizer. On the day of the auction, the organizers must organize the signing of a protocol formalizing the sales results. For the correct legal registration of an auction, the assistance of professional lawyers in the field of licensing will be required.
According to the Civil Code, each auction participant must make a deposit, the monetary amount of which is indicated in the notice of sale. In addition, they sign an official protocol documenting the results of the auction.
The deposit paid is returned to all participants in the event of cancellation of the auction. Also, all participants who do not win the auction have the right to a refund of the deposit.
The concept of “auction” in other legal acts
The term "auction" also appears in federal law regulating the placement of state and municipal orders for various works, supply of goods, provision of services - the so-called “government procurement”.
In the mentioned law, the term “auction” means holding a competition for the right to conclude an official contract with representatives of state and municipal bodies. In this case, the winner of this competition is usually the person who offers the lowest cost of the services offered.
Auction documentation strictly regulates the application form for a person wishing to take part in this event. The official application must contain a package of supporting documentation, which includes: required licenses, admissions and permits to carry out work or provide services. This provision is relevant only in cases where the contract provides for mandatory licensing of the work performed. Non-compliance of the application with the specified standards, as well as other violations in its preparation, may cause refusal of admission to trading.
Persons wishing to organize auction sales or take part in them should take into account that additions and changes are often made to the relevant legislative acts. Thus, since the beginning of 2014, the previous law on public procurement has lost its force due to the adoption of a new Federal Law, according to which new provisions are established in the field of holding competitions among suppliers of goods and services for the needs of the state and municipalities.
The electronic form of auction trading has begun to actively develop in Russian Federation simultaneously with the development computer technology, in particular, the Internet space. The main feature of online trading is its remote form using specialized websites and electronic platforms.
This form of auction sales is much more convenient than their traditional types - with the direct presence of participants in the room where the auction is held. In order to participate in an electronic auction, potential buyers, as well as organizers, do not need to leave their offices or homes.
In Russia, the types and concept of auctions held using online platforms can be as follows:
- Raising trades. IN in this case The winner of the competition is the participant who offers the highest price. A similar form is used when concluding ordinary purchase and sale transactions.
- Short bidding is when the participant with the lowest price wins the competition. It is used when concluding various contracts, including in the field of government procurement.
Most electronic orders placed government agencies and municipalities, according to the law, take the form of an auction to reduce the offered price.
Persons wishing to take part in online auctions conducted via the Internet should take the most responsible approach to the execution and preparation of official applications. All the nuances and features of this procedure are specified in regulations and tender regulations.
In accordance with the civil code, not only the organizers, but also the auction participants have certain obligations. Therefore, in order to avoid possible financial risks, save your energy and time, before making a decision to participate in the auction, you should consult with qualified specialists in the field of finance and law.
Types of auctions
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auction
Economic dictionary of terms
(from Latin auctio - sale at public auction) auction
selling method individual species goods in the form of a public auction, held in a predetermined place and at a predetermined time with the right of preliminary inspection of the goods. Goods at auction are sold in single samples or in batches (lots) to the buyer who offers the highest price. During the bidding process, the auctioneer (the person conducting the auction) announces to the potential buyers (auctioneers) present about the item being sold and its initial starting price. Then the auctioneers take turns announcing and naming the rising price at which they are willing to buy the item. The bidding continues until the highest price is named. This is an "English" auction. In a Dutch auction, the auction begins with a very high price and continues to lower it until a buyer is found who is willing to buy at the stated price. A voluntary auction is held at the initiative of the owner of the goods. Enforcer
Dictionary of financial terms
AUCTION
alternate sale of real goods based on a buyer competition. AUCTIONS are held at permanent or pre-designated locations at a traditional or pre-designated location. International AUCTIONS are usually commercial organizations with premises, equipment and personnel. Trading at AUCTIONS takes place openly with the participation of the buyers themselves. AUCTIONS are also organized by specialized brokerage firms who are engaged in the resale of goods on a commission basis on behalf of their clients - sellers and buyers, who themselves do not participate in the AUCTION, but pay remuneration to brokers.
Explanatory Dictionary of the Living Great Russian Language, Dal Vladimir
auction
M. lat. sale at auction, at auction, at auction, at public auction. Auction chamber, the location of this sale. Auctioneer, auctioneer m. official trader when selling under the hammer; auctioneer m. who bargains, adder.
Explanatory dictionary of the Russian language. D.N. Ushakov
auction
auction, m. (Latin auctio, lit. multiplication) (bargaining). Selling something. property or goods at public auction, with the property going to the highest bidder. sell at auction (sell for debts through auction).
Explanatory dictionary of the Russian language. S.I.Ozhegov, N.Yu.Shvedova.
auction
A, m. Public sale, in which the buyer becomes the one who offers a higher price. Sell at auction. Buy at auction. Furry a. International a. breeding horses.
adj. auction, oh, oh.
New explanatory dictionary of the Russian language, T. F. Efremova.
auction
m. Method of public selling something., in which the buyer becomes the one who offered a higher price.
Encyclopedic Dictionary, 1998
auction
AUCTION (from Latin auctio - sale at public auction) is a method of selling goods in which the goods (or samples of them) are first put up for inspection. In the form of an auction, real estate is also sold, the forced sale of property of insolvent debtors, etc. is carried out. Usually, a starting price is set at an auction.
Large legal dictionary
auction
(from Latin auctio - sale at public auction) - a type of auction in which a contract for the sale and purchase of property is concluded with the person who offers the highest price. An auction sale can be forced or voluntary, organized by the seller himself or carried out through a special organization acting as a commission agent. also Auction trading.
Auction
(from Latin auctio ≈ sale at public auction), in international trade a method of selling certain goods (furs, tobacco, tea, etc.) in separate lots, in which the goods (or samples of them) are first exposed for inspection by possible buyers. The time and place of the A. will be announced in advance. General terms sales of goods are determined by the seller. The buyer of the consignment is considered to be the person who offered the highest price during the execution of A. When selling on A., unlike a regular sale, the seller’s liability for the quality of the goods sold is excluded. In the USSR, international exhibitions for the sale of furs are regularly held in Leningrad.
In the form of A. ≈ public auctions ≈ the forced sale of property of insolvent debtors is carried out, goods that are not claimed on time from transport and warehouse enterprises are sold, and in other cases.
V. S. Pozdnyakov.
Wikipedia
Auction
Auction- public sale of goods, valuable papers, property of enterprises, works of art and other objects, which is carried out according to pre-established auction rules. The principle common to all auctions is the principle of competition between buyers. In the process of competition between buyers for the right to purchase the goods, the winner of the auction is determined. The winner of the auction is the person who wins the auction in accordance with its rules. In this case, the object is purchased by the auction winner.
Auction (novel)
Novel "Auction" published in 1985. In the world, the arms race between two ideologically opposed camps, led by the USSR and the USA, is reaching its peak.
In the Soviet Union after a series of deaths Secretaries General The party is headed by a relatively young leader, M. S. Gorbachev.
The novel talks about what exists in the world powerful forces, preventing the return to their homeland of cultural property stolen by Nazi criminals during the Second World War, taken from the occupied territories.
The memory of the past war is still fresh in society; many veterans are alive who have the opportunity to tell the truth about the atrocities and crimes that the Nazi invaders committed.
How to find a business angel: step-by-step instruction
Step #1. Self-identification.
Basically, the search for business angels is carried out by those who have invented something new and received a patent for a new product or service. But the concept of an innovative product is much broader - it does not have to be a technical invention, it can be A New Look to what already exists. For example, a cafe with unusual service or a car wash could become an innovation. It is necessary to answer the question: what is new in the proposal, what are its advantages? Hence, a minimum of market research needs to be done to help understand the market. The means can be different: from empirical knowledge to Internet search.
Step #2. Determining the audience of the product.
You need to decide who will be the buyer of your product. How wide is the market for the product you offer? Both invention and new approach can be applied to an existing product or service for different audiences. Business angels are interested in highly profitable projects with more than 29% per annum, otherwise they are unlikely to take risks. Perhaps the algorithm you propose can be bought by large companies. But searching for them can take a long time. Another option is to do e.g. software and burn it to disk. Accordingly, the consumer audience of your product becomes much wider.
Step #3. Team.
A business angel is a private investor who most often has either a job or his own business. A business angel has certain experience and will help in implementing the project, but the investment applicant needs to have a team of at least two people. If an investment seeker proposes some new approach to a product or service, then, as a rule, an experienced manager is behind the project. If an applicant proposes an invention, then there should be a manager next to such a person: no matter how brilliant the idea is, it must be correctly implemented.
Step #4. Drawing up a business plan.
You can draw up a business plan yourself or order it from a consulting firm. The cost of the service will cost $ 1-5 thousand. The business plan must contain: project name, product description ( Special attention consideration should be given to the independent research conducted and its results), the stage of product development, the estimated unit price and cost of production, and the main features of the product. The market description should include information about the annual market size, growth rate, segments, and your ambitions to capture market share (in percentage). In addition, the business plan must contain information about the necessary investments, competitive advantages and competitors, the management team of your project, the investor’s expected share in the company, the planned return on investment, etc.
Step #5. Communication with a business angel.
Typically, communication with a business angel occurs at presentation sessions. As a rule, applicants apply for three or four projects at once. It is important to tell all the most important and most interesting things about the project in the 10 minutes allotted for the presentation. Because, as a rule, after the presentation questions begin. The presentation needs to cover all the issues discussed in step No. 4. The presentation should not be only oral. It is better to prepare handouts and make a presentation in Power Point.
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The idea of an enterprising person may remain in this status forever if the means for its implementation are not found. “Golden minds” do not always have finances and do not have the opportunity to receive bank loan, because a new product is always a risk. But there is a way out. So-called “business angels” can provide financial assistance. This article will be dedicated to them.
Charity or payment
Business angels are considered companies or individuals who invest personal funds in the development of new projects. Usually their interest is attracted by new technologies and production that are in the embryonic stage or the initial stage of emergence. The author of the idea is not yet known to anyone, but his discovery or idea may gain wide popularity and demand in the market.
Then the business angel acts as an investor, creating the basis for the fruitful development of a young business. Financial aid depends on the financial situation of the benefactor and the scale of the idea. Some geniuses involve relatives and friends in their project, who partially invest. The rest is added by, which does not require dividends or other payments at the stage of business development. This is a plus for a young entrepreneur who has not yet earned anything and cannot make a monthly payment, as with.
This circumstance cannot be considered charity, because the business angel, of course, has an interest. He will receive his profit in a few years, when the young company reaches the required level On the market. Therefore, an investment by an individual or organization is not charity. This is help that will return with greater profits.
The interest for a business angel is the profit that he will receive in a few years, when the young company reaches the desired level in the market.
Business angels include wealthy people for whom amounts from 10 thousand to a million dollars (and sometimes more) are not something fabulous. Having available funds, business people find them useful application. Investors earn up to 70% per annum on selected projects. Although, of course, there are big risks that the project will turn out to be unprofitable and the invested funds will burn out. Benefits only happen when an investor supports several projects, which are called startups.
Various possibilities
There are also investors in Russia who invest personal funds in risky projects. The phenomenon is young for our country, but rapidly gaining momentum, because it implies a real opportunity to increase capital.
Business angels are conventionally divided into the following types:
- Corporate – represented by individuals who do not yet have their own business, but are well versed in economics and marketing. Often these are top managers of reputable companies who were fired and received substantial funds when they left. Money must work, so you can become an investor. Such business angels receive employment opportunities as managers. The contribution to a startup depends on your personal budget, but usually does not exceed 20% of this amount, so as not to go bankrupt in case of failure.
- Entrepreneurs. This type is the most popular both in Russia and abroad. Successful businessmen not only have money, but also experience, which is useful to an aspiring member of the business world. By investing, they expand their capabilities, analyze the new kind activities. Often they do not apply for management in the invested project, because they have enough to do in the main business. They prefer to do periodic checks.
- Enthusiasts. They invest money in new business for fun. This is their hobby, which brings in good income when making the right choice companion. They often take a passive part in the development of events. They can become a business angel for several startups at the same time.
- Professionals. They work only with ideas that are close to them in spirit and the specifics of their work. They will not delve into what is unfamiliar to them. They often team up with other investors to bring a product or service to market as efficiently and quickly as possible.
To become a partner of any of the listed business angels, you need to come up with something really interesting and useful. Some investors are willing to invest even at the research and development stage, especially in the field scientific discoveries, information technologies, medicine, etc.
To become a partner of business angels, you need to come up with something really interesting and useful.
Advantages and disadvantages for partners
There are always pros and cons to partnership agreements when it comes to financing. The same applies to the situation when a business angel takes a newcomer under his wing.
Let's list the positive points:
- For a young entrepreneur, a private investor is a lifesaver, because only a few will take on risky projects, and without money there is no chance of even making a name for themselves.
- An experienced partner will share his wealth of knowledge, of which he has a lot, and will do it for free, because he is interested in your success. This is important because many innovators only have an idea, but management fundamentals and much more require knowledge and experience.
- Unlike a bank or other type of partner, business angels do not require payment of money before the end of the investment period, which is specified in the contract by agreement of the parties. Usually the entrepreneur does not give the money himself; the investor sells his share and makes a profit.
The disadvantages include the following:
- By concluding an agreement, a private investor acquires a stake in the business and can participate in management, which will disrupt the plans of the owner of the idea. The entrepreneur is “under the hood”.
- The investor invests money only for a certain period, usually at the beginning of the process, and does not renew the agreement for further development affairs. As they say, they taught you all the subtleties, then figure it out yourself.
- Funds are limited because philanthropists rarely invest more than $1 million in a single project. If we are talking about creating a serious industrial enterprise, the owner has to look for additional finance.
But in general, the activity of business angels has many more advantages than disadvantages for both parties.
Help will come
Not everyone can find a mentor and financial assistant, because it takes effort. Often you need simple luck. Some innovators quickly get excited about an idea, but lose hope at the first difficulties.
To succeed, you need to make yourself known so that the right business angel becomes interested in the idea. There are special forums and conferences where participants demonstrate a product or service. Private investors visit these sites personally or hire agencies to select creative and potential ideas.
Sometimes help comes at the stage of opening a production, office, department: when funds for the launch have been found, but it takes a while to advance new level The company cannot do this without additional capital investments.
Business angels choose areas that are unique, often isolated and unknown to anyone. The main features of the relationship are that the investor is only interested in the stage of getting up and getting on his feet. When a brand gains popularity and its assets gain value, the investor can sell the investor’s share (both to the creator of the business and to a third party). And the sale amount often exceeds the investment many times over.
There are examples of successful transactions in many countries, when business angels made serious investments in a risky project and remained at a big profit:
Their list is large, but will expand every year. For the Russian business environment, investing has opened up new horizons, which will take on new directions in 2017. Domestic businessmen and individuals who are looking for promising ideas and profits are actively joining the ranks of business angels.
Let's sum it up
In order for a young sprout to make its way to the sun, become strong and produce a harvest, considerable investments are required, which young discoverers usually do not have. Banks and serious financial funds are not used to taking risks and therefore refuse to finance such projects. The help of business angels is the basis for what has already become common property or is on the verge of success.
If you have an idea, then you should try all the possibilities, and if you have money, then become a business angel and make a profitable deal.
TOP 15 most active angels in Russia. With the support of RVC, NABA and the business newspaper RBC daily
There is no single definition of business angels, which in itself creates difficulties in understanding who ultimately is an angel and who is not. The point is that enough is enough a large number of people invest in projects of technology entrepreneurs. When making the TOP 15, we proceeded from the following definition: business angels (or angels)– these are professional single venture investors for whom supporting innovative companies is one of their main activities and whose goal is to make a profit. Thus, business angels should not be put on the same level as investing entrepreneurs who are not focused on supporting start-up businesses, but do it from time to time. It is also necessary to separate angels and private investors who invest not only in hi-tech, but also in many other assets, as well as non-professional investors who invest chaotically, inconsistently and without a certain logic. In our understanding, a business angel is essentially a venture fund of one person (interestingly, some famous angels As a result, they are now forming their own funds, introducing their own projects there).
Important comments for correct reading of the TOP-15.
1. TOP is in no way a ranking of the best angels (this formulation is not correct in itself). This is a selection of the most active in the public sphere for the specified period (that is, two years), an attempt to show the most active market participants with the aim of, among other things, popularizing venture investing.
2. TOP-15 is a media product, not scientific research, so we ask you to treat it that way.
3. The criterion according to which we built the list is the number of invested projects over the past two years. We understand that this is a very conditional metric of angel activity (the main one is, of course, return on investment), but it is the most transparent and explicit indicator, and in this case it is used only to add internal logic to the list. At the same time, we provide maximum information for each investor so that the reader can independently evaluate the most important criteria.
4. We understand that all the information we collected and verified has assumptions: not all transactions become public, not all angels are ready to share this information (according to the Evaluation of EU Member State Business Angel Markets and Policies-2012 report, the share of “visible” to the market business angels in various countries Europe ranges from 4-5% to 100% of the real number of investors). In the same way, they can overestimate or, on the contrary, underestimate the size of their investments. Thus, we understand that information from any sources cannot save the picture from distortion Russian market business angel investments. Of course, we tried to minimize these risks and relied on both research and public information*, as well as data received from the angels themselves (and their answers were carefully verified).
5. For the purity of the study, we excluded the so-called private investors and investing entrepreneurs, who for the most part do not consider themselves angels (such as the founder of the Ashmanov and Partners company, Igor Ashmanov, who quite actively invests money in new projects). It is interesting, by the way, that many private investors, who, according to formal criteria, could be classified as angels, do not consider themselves such (like, for example, the famous entrepreneur Natalya Kasperskaya).
6. We understand that the assessment of investors working in different industries is not entirely correct (investments in complex, knowledge-intensive industries occur much less frequently and the process of studying potential portfolio companies and their financing is much longer than in IT and the Internet). At the same time, the Russian venture market (as well as the global one) has a clear bias towards IT and the Internet, and the majority of venture investors work in these segments.
7. At the same time, the compiled TOP is not a random selection of business angels, but the result of a market study, open research, as well as public information about transactions. In addition, almost all TOP participants were surveyed (there were indeed those who refused, but they were in the minority).
8. Based on the analysis of the angel investment market, we can definitely conclude that the number of angels is growing, including thanks to active work specialized associations and associations Thus, according to formal criteria, several potentially very active business angels did not make it into the TOP-15: Pavel Glushenkov, Oleg Mikhalsky, Alexey Prudnikov, etc. On the other hand, it is obvious that the ranks of angels will be replenished with successful ones emerging from already built they are businesses, entrepreneurs - this is exactly the path that many of today’s experienced angels took in their time - Alexey Basov, Arkady Moreinis and many others. Another interesting conclusion may be the emergence of a class of “super angels”, which are already going beyond the scope of angel activities and are actually turning into venture funds named after themselves - Igor Ryabenkiy with Altair, Igor Matsanyuk with IMI.VC, Pavel Cherkashin with VESTOR.IN.
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