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 ?
But some auction houses provide staff to guide first-time buyers."
"With Skeleton, auction houses have the possibility to increase their market share and improve their long-term competitiveness.
"I believe that it was taken out of Egypt illegally," Mostafa Waziri, secretary general of Egypt's Supreme Council of Antiquities told Reuters news agency, adding that the auction house did not provide any official documents to prove the origin of the sold statue.
In January, Egypt took possession of a stone tablet belonging to the pharaoh Amenhotep I, which had been put up for sale at another London auction house after being illegally smuggled out of Egypt.
Management of the auction house, Susanne and Frank Hargesheimer, decided to purchase the holy relic from the consignor in order to donate it as a gift to the rightful owner.
A 20-mile smoke trail hung in the sky, while the meteorites that split apart from the main body produced almost 200 craters, some up to 85 feet wide, the auction house said on its website.
Weisberg said Invaluable will be offering Artmyn scanners at no charge to many more of its auction house partners in coming months.
In all our specifications, we add several control variables including the auction house's market share.
How: Auction House South Wales, Wednesday, December 12, 7pm at Village Hotel, Coryton, Cardiff
"Research shows that even early on, Hitler became aware of the girl's Jewish heritage but chose to ignore it, either for personal or propaganda reasons," the auction house said in the description of the item.
The first auction house to sell prints by Banksy since THAT auction two weeks ago does not anticipate another stunt like the one that shredded half a picture moments after the hammer fell.
An auction house is selling an unopened letter that was mailed to the home of Anne Frank while she and her family were hiding elsewhere from the Nazis.