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EN
The article discusses methods used in auctioning Treasury securities in Poland. Treasury auctions are widely used by authorities responsible for the management of public debt. The authors of the paper set out to identify auction mechanisms that maximize the expected income of the seller. The paper shows the effects of the single- and multiple-price auction systems in Poland. The authors use a research method developed by G.R. Kim, S. Oh and K. Ryu. Babczuk and Dudek conclude that the single-price auction system is safer for the issuer because revenue from single-price auctions is in most cases higher than that generated from multiple-price auction systems. At the same time, due to imperfect research methods, especially in estimating the issuer’s revenue from a single-price auction system, further in-depth studies are needed into methods for carrying out auctions for T-securities in Poland, the authors conclude.
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EN
The GUS Central Office of Statistics has been providing information on the number and value of property deals, concluded annually in the form of notarial deeds since 2003. Detailed information has been available on ca. 75% of market deals, in the amount of more than 300,000 and valued at ca. 44 billion Polish zlotys (2007 data). The data are split according to market segments (business premises and office space, land and developed properties) and to deals (those in Municipal Counties, Rural Counties, and Regional Capital Cities). One can identify transactions that were based on auctions, as well as those carried out on free market, in the context of ownership or perpetual usufruct. Also average deal values are included, based on the respective segments. That information has extended our knowledge on the property market in particular years of the period 2003-2007.
EN
Article 70[5] of the Civil Code gives an opportunity to invalidate a contract which was concluded as a result of a faulty tender or an auction, when someone affected a result of the tender or the auction contrary to a law or a a good will. There are three types of problems connented with the article 70[5] of the Civil Code. First: is the formulation of the article 70[5] proper? Second: is a range of an usage of article 70[5] accurate? Finally, third: is an invalidity of the contract an effective and proportional sanction? The article attempts to give an answer to foregoing questions.
EN
The process of Europeanisation in the legal field results in various conflicts between the Member States and European authorities. Cases concerning State aid are an example of such a conflict, where on one hand Member States want to preserve control over various supporting schemes and on the other the European Commission and the Court of Justice of the European Union through a set of judgements and decisions increase their supervisory power over the supporting schemes. The European jurisprudence tend to stretch the scope of State aid by expanding the definition of State resources, which is one of its prerequisites. Applying of such a broad definition of State resources to Polish green certificates scheme and the auction scheme shows negative results of this approach that not only decreases the efficiency of the Renewable Energy Sources supporting schemes but that has a negative reflection on the whole State aid system.
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EN
The aim of this article is to show the course of castle-library auctions in the 1930s on the specific example of the Dietrichstein family. The sale of the Mikulov castle library is placed in the broader context of legal and social changes after the collapse of the Habsburg monarchy and the establishment of the First Czechoslovak Republic (the abolition of fideicommissum, a change in the status of the former nobility).
EN
Weronika Ptak in the paper The Artist and the Art Market: Magdalena Abakanowicz analyzes the presence of Magdalena Abakanowicz's works on the international and domestic art market, with an emphasis on the auction market. The analysis of the auction results is accompanied by the biographical outline and artistic activity of the artist. In the first part, the artist's biography is outlined, including exhibitions and biennials important for her artistic career, which are presented in the context of the feminist history of art that was developing at that time and the first exhibitions devoted exclusively to the work of women artists. The further part of the text presents the division of the art market and its components, which affect both the position of artists and female artists, as well as their prices on the secondary market. Exhibitions, biennials, art fairs and many other factors contribute to the situation of each of the creators on the auction market, which is the only one that allows you to track transaction data. The presence of Magdalena Abakanowicz works on the global auction market has been traced from the first New York Sotheby's auction in 1988, to the 2019 auction record set at the Warsaw auction house DESA Unicum. As part of the introduction, a historical sketch and specificity of the Polish art market have been outlined, to analyze the presence of Magdalena Abakanowicz's works on the domestic art market in the context of the international market in a later part of the section. At the end of the text, the most important achievements of Magdalena Abakanowicz are presented, such as an unconventional approach to textiles and the initiation of an artistic installation, the creation of which by the artists is indispensably connected with, among others, with feminist movements and the role of female artists in creating public sculptures and city monuments. The presence of the artist on the global art market was also summarized, along with references to the representation of female artists' works in permanent collections and the average median, which has been lower than that received by men for decades.
PL
GUS udostępnił od 2003 r. informacje o liczbie i wartości zawieranych corocznie umów notarialnych dot. nieruchomości. Szczegółową informacją objęto dotąd ok. 75% transakcji rynkowych w liczbie ponad 300 tys. o wartości ok. 44 mld zł (dane za 2007 r.). Dostępny jest podział tego rynku na segmenty (lokale, grunty, budynki, nieruchomości zabudowane) oraz obroty w powiatach grodzkich, ziemskich i miastach wojewódzkich. Można wyodrębnić transakcje w trybie przetargu i wolnorynkowe w sferze własności i użytkowania wieczystego. Wyprowadzono także średnie wartości transakcji według segmentów. Poszerzyło to naszą wiedzę o rynku nieruchomości w poszczególnych latach 2003-2007.
EN
The GUS Central Statistical Office has since 2003 been providing information on the number and value of property deals, concluded annually in the form of notarial deeds. Since then, detailed information has been available on ca. 75% market deals, in the amount of more than 300,000 and valued at ca. 44 billion Polish zlotys (2007 data). The data are split according to market segments (business premises and office space, land, developed properties) and to deals (those in urban counties, in rural counties, and in provincial cities). One can identify transactions that were based on auctions, as well as those freemarket ones, in the fields of ownership and perpetual usufruct. Also average deal values are included, based on the respective segments. That information has extended our knowledge on the property market in particular years of the 2003-2007 period.
EN
The article discusses the recent international interest in contemporary Romanian art and its growth in market share, with a focus on the United States. The theme is followed thorough in numerous museum exhibitions, increased collector following, art fair presence, gallery representation and auction activity initially in Europe and the United States. The phenomenon is discussed both in the context of the larger international movement conducive to the contemporary art price bubble, and in that of the local socio-economic changes. My chief interest lies in the factors leading up to the entry of post 1989 Romanian art in the global arena as a manifestation of market forces in the field. The analysis follows its grass roots local emergence through non-profit institutions, individual artists, small publications, low budget galleries, as well as the lack of contribution (with few notable exceptions) of state institutions, while pointing out the national context of increasing deregulation of social support systems resulting in lack of focus on cultural manifestations. The conclusion is that the recent ascent of contemporary Romanian art (and coincidentally, the award winning contemporary Romanian cinematography) is a fortuitous convergence of various factors, among which, increased international mobility and sharing. At the same time, it is also the result of the evolution of various individual artists that pursued a form of art rooted in Romanian artistic tradition but with a focus on the symbolic figurative. The result is a personal semiotics of raising the mundane to extraordinary levels that reconfigured the anxiety of entering a new system into an unmistakable and lasting visual language.
EN
Online advertising is one of the most dynamically developing forms of advertising in the Polish market. This paper aims to review existing auction mechanisms for pricing and selling online advertisements. The analysis of the available solutions, including their advantages and disadvantages, such as usefulness in determining the advertisers’ willingness to pay, allows for the indication of practical recommendations for the use of specific auction mechanisms for the media market in Poland. The presented solutions can be considered an alternative to the traditional method of concluding purchase/selling transactions of advertising space.
PL
Reklama internetowa jest jedną z najdynamiczniej rozwijających się form reklamy na rynku polskim. W artykule dokonano przeglądu koncepcji wykorzystania mechanizmów aukcyjnych na potrzeby sprzedaży reklam internetowych. Analiza dostępnych rozwiązań, w tym ich wad i zalet, takich jak przydatność w ustalaniu gotowości do zapłaty reklamodawców, pozwala na wskazanie praktycznych rekomendacji dotyczących zastosowania konkretnych mechanizmów aukcyjnych dla rynku mediowego w Polsce jako alternatywy dla tradycyjnego sposobu zawierania transakcji kupna/sprzedaży przestrzeni reklamowych.
EN
The contemporary art market has a good chance of development, if it makes use of favourable social trends and new developments in the economy (e.g. art banking). When it comes to art galleries as a sector, it has a huge growth opportunities due to the increasing amount of cash that can be used for purposes other than basic ones. Another thing which has a positive impact on the sector is the growth of households’ income. This is an opportunity for the sector, but a single gallery, facing increasing competitiveness in the market, must be proactive and stand out from others. The way to achieve this is to undertake various activities mentioned in the text, but also other — more creative ones, and to establish close business relationships based on trust, both with business partners and clients. The main way to successfully survive in this market is continuous communication with the environment of the gallery. It is not enough to be located in a good spot, rather it is continually signaling the presence that makes a gallery successful.
EN
In the Kingdom of Poland, auctions were an important element of commerce, both with regard to state, territorial authority and private property, and to the attainment of other purposes, including protection of creditor interests. Investigation of the issue requires examination of not only legislation but also practice. No conclusions must be made prior to the examination of operation of this important tool of acquiring and selling property. Instead it is best to examine materials concerning practice, a great deal of which have been preserved. The documents of interest concern the preparation of auctions (announcement, bidding conditions), their conduct (auction protocols), and the subsequent consequences (contracts). Examination of the files on practice allows to determine the objects of auction, the reasons why the auctions were conducted, as well as economic, social and legal factors that influenced auctions. The wealth of legislative material, which can be combined with the plentiful files on of auction practice, opens a broad field for researching issues associated with the use of this procedure.
PL
W Królestwie Polskim licytacja była istotnym elementem obrotu gospodarczego, zarówno w odniesieniu do eksploatacji własności państwowej, samorządowej, prywatnej, jak i realizacji innych celów, w tym ochrony interesu wierzycieli. Analiza zagadnienia wymaga zbadania nie tylko ustawodawstwa, ale i praktyki. Nie można formułować wniosków, wydawać ocen, przed poznaniem funkcjonowania tego ważnego narzędzia nabywania i zbywania własności. Trzeba zatem sięgnąć po materiały praktyki, których zachowało się bardzo dużo. Interesować nas będą dokumenty dotyczące przygotowywania licytacji (obwieszczenia, warunki licytacyjne), jej przeprowadzenia (protokoły licytacyjne) oraz skutków (umowy). Zbadanie akt praktyki umożliwi ustalenie przedmiotu licytacji, powodów, dla jakich ją przeprowadzano, a także czynników gospodarczych, społecznych, prawnych, które miały na nią wpływ. Bogactwo materiału normatywnego, z którym można łączyć zasobne akta praktyki licytacji, otwiera obszerne pole dla badań problemów, jakie wiązały się z wykorzystywaniem tej procedury.
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