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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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.



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.


The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Telecommunications Bureau, and the Office of Economics and Analytics, is now making public "certain information" about non-winning bids in the reverse auction portion of the broadcast television incentive auction -- a.k.a.
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The business community presented bids enthusiastically and appreciated the transparency of the auction. On the third day of the auction, Kahuta Triangle Industrial Plot No 239 (3333.33 square yards) was auctioned for Rs21,000 per square yard, Plot No 11-A of Diplomatic Enclave of Apartments (4,000 square yards) was auctioned for Rs200,000 per square yard and Plot No 2-E Class-III Shopping Centre Sector I-14/4 (133.33 square yards) was auctioned at Rs220,000 per square yard.
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The lot was for sale for the first time in many years so there was a sense of anticipation in the auction room at Chester Racecourse on February 27 when it sold for PS55,000 from a guide price of PS20,000+.
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