auction

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auction

the competitive calls made in bridge and other games before play begins, undertaking to win a given number of tricks if a certain suit is trumps

Auction

 

in international trade, a method of selling certain goods (such as fur pelts, tobacco, and tea) in separate lots. Prior to an auction the goods (or samples of them) are exhibited for the inspection of possible buyers. The time and place of the auction are announced beforehand. The general conditions of the sale of goods are determined by the seller. The buyer is considered to be the person who during the course of the auction has offered the highest price. At an auction, in contrast to an ordinary sale, the seller is absolved from responsibility for the quality of the goods that are sold. In the USSR, international auctions for the sale of fur pelts are regularly held in Leningrad.

At the form of auction known as a public sale there is a forced sale of the property of people who cannot pay their debts. Goods are also sold if they have not been claimed on time from transportation and warehouse enterprises and in certain other cases.

V. S. POZDNIAKOV

References in periodicals archive ?
marketplace offers fine auction houses access to a vetted community of more than 6 million highly qualified bidders.
1 THE first step is to find auction houses that sell properties in the area you're looking in.
To officially reopen the new auction house, Newport Auctions hosted a Formula 1 driving simulator challenge where participants were encouraged to make a donation to help raise money for the charity Dreams and Wishes.
We firmly believe that by shutting down the real-money and the gold auction houses, it really paves the way to make sure that killing monsters in-game is the most rewarding, the most satisfying, the most compelling way of getting your hands on those items," Mosqueira said.
Looking ahead, Auction House predicts that the next 12 months will see auctions become an increasingly popular way to sell as owners look for speed and certainty in a challenging property market.
Online auction network signs with three top auction houses in the UK and Australia to deliver personalized, detailed information to collectors throughout the world
Roger Lake added: "This is a fabulous endorsement of the excellent relationship Auction House has with other businesses locally, including our suppliers and estate agents.
JOINING FORCES: Pictured from left: Jim Johnsone, from Auction House Tees Valley, Janice Drummond, and Jamie Drummond
Here's a list of just a few of the auctions or auction houses in the area:
The pop singer's production company, MJJ Productions, attempted to sue Julien's Auction House in March after claiming the star had not authorised the sale of over 2,000 items taken from his Neverland Ranch.
Auction House is an organisation of national independent auctioneers providing the concept of a strong national brand identity.
In some cases, a portion of the buyer's premium has been passed on to the seller by the auction house so that they get more than the hammer price for their wares.