Ruling on Auction Sales
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Some companies sell some of their equipment without setting a price; instead, they announce it and set a specific period, such as three or four days. Anyone who wants to buy comes with a price, and they take the price that he wants. Is this sale valid?The Shaykh: How?Meaning: For example, they announce that within three days, anyone who wants to buy a commodity from us can set its price at whatever amount he wishes.
The questioner: Yes.
Any trader sets a price for his goods, and they collect the papers, then look at these papers and sell to the person at the price he wants.Meaning: Any trader sets a price for selling these cars.
The Shaykh: Is this a company?
The Shaykh: A company that wants to sell old, used cars announces that it has cars for sale, but anyone who wants to buy them sets a price and submits it on paper at a specific time, saying: This period ends in three or four days?
Well, the cars are different; how is their price determined?The questioner: They come and look at which of these cars they want and write their number on it. The Shaykh: This customer comes for this specific car,And he says: and buys it for ten thousand, and another person also comes and does what the first one did. Then they collect them at a specific office, and whoever comes with his paper, his address, and the price he wants to buy at, the final result is that they sort the papers and prices, then sell to the person who wrote the highest price.
The Shaykh: But he knows the car he wants?Meaning: He wants a specific car, number so-and-so, and everything. If it is ten thousand, for example, and another person comes and his eye falls on it?The questioner: This person also sets a price.
The Shaykh: And he says: I am giving ten thousand.
The questioner: He does not speak with them.
The Shaykh: Does the second one accept it, or is the first one the questioner: No.
They take the highest price.
Answer: There is nothing wrong with this; because the commodity is known and the price is known to both the seller and the buyer, so there is no excessive uncertainty in it. When the days are completed, whether three or fewer or more according to the submission, they come to the place and the papers are sorted.
The questioner: Yes.
Any trader sets a price for his goods, and they collect the papers, then look at these papers and sell to the person at the price he wants.Meaning: Any trader sets a price for selling these cars.
The Shaykh: Is this a company?
The Shaykh: A company that wants to sell old, used cars announces that it has cars for sale, but anyone who wants to buy them sets a price and submits it on paper at a specific time, saying: This period ends in three or four days?
Well, the cars are different; how is their price determined?The questioner: They come and look at which of these cars they want and write their number on it. The Shaykh: This customer comes for this specific car,And he says: and buys it for ten thousand, and another person also comes and does what the first one did. Then they collect them at a specific office, and whoever comes with his paper, his address, and the price he wants to buy at, the final result is that they sort the papers and prices, then sell to the person who wrote the highest price.
The Shaykh: But he knows the car he wants?Meaning: He wants a specific car, number so-and-so, and everything. If it is ten thousand, for example, and another person comes and his eye falls on it?The questioner: This person also sets a price.
The Shaykh: And he says: I am giving ten thousand.
The questioner: He does not speak with them.
The Shaykh: Does the second one accept it, or is the first one the questioner: No.
They take the highest price.
Answer: There is nothing wrong with this; because the commodity is known and the price is known to both the seller and the buyer, so there is no excessive uncertainty in it. When the days are completed, whether three or fewer or more according to the submission, they come to the place and the papers are sorted.