auction

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Related to Auction houses: Bonhams, Online auctions

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 ?
In the United States, top-tier auction houses such as Sotheby's, Christie's, Paddle 8, Phillips and Heritage have already signed on to become cooperative partners with Barnebys.
If you're worried about this, get someone to bid for you, or bid by proxy, where you authorise the auction house to bid on your behalf up to a specified limit.
Auction houses are said to have been affecting the game's central appeal and undermined Diablo's core game play.
Those that will be hardest bit are those that buy mid-range art (valued at less than $1m) from the auction houses and will have to pay the highest commissions proportionally.
Together, RFC's enterprise software and Artfact's online research and marketing services provide auction houses with a one-stop set of proven solutions, and the best support available to meet their most challenging information systems needs in a rapidly changing technology environment.
Here, they can easily search by category or auction house, preview sales, create watchlists and share discoveries with friends, family and other enthusiasts via social media, and work directly with auction houses and specialists.
Artprice's position is very clear: the Internet represents for the auction houses - which have always been its historical partners and clients - a significant cultural and economic shock, just as it has been for the printed press.
com to find what they want at more than 1,000 of the world's finest traditional auction houses.
This announcement gives collectors exclusive access to all collectibles available at these and many other of the top auction houses across the world, no matter what type of item they are searching for.
By working with auction houses across the world, Auctionblip provides an easy-to-use online resource for collectors.
8 /PRNewswire/ -- RFC Systems, founded in 1987 and internationally recognized for its expertise in computer systems designed for traditional art and antiques auction houses, and Artfact, founded in 1989 and offering the largest and most complete online database of antiques and art auction sales results, have merged.
New Feature Empowers Traditional Auction Houses and eBay Users With Real-Time