What does auction house mean?
Definitions for auction house
auc·tion house
This dictionary definitions page includes all the possible meanings, example usage and translations of the word auction house.
Princeton's WordNet
auction housenoun
a firm that conducts auctions
Wikipedia
auction house
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory. The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than the previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically.Auctions are applied for trade in diverse contexts. These contexts include antiques, paintings, rare collectibles, expensive wines, commodities, livestock, radio spectrum, used cars, real estate, online advertising, vacation packages, emission trading, and many more.
ChatGPT
auction house
An auction house is a business or organization that conducts auctions, which are public sales in which goods or properties are sold to the highest bidder. It acts as an intermediary between sellers and buyers and can handle various items like art, antiques, collectibles, real estate, and more. The auction house takes responsibility for authenticating, cataloging, promoting, and selling the items, and in return, it usually charges a commission from the sale.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of auction house in Chaldean Numerology is: 8
Pythagorean Numerology
The numerical value of auction house in Pythagorean Numerology is: 7
Translations for auction house
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"auction house." Definitions.net. STANDS4 LLC, 2024. Web. 25 Apr. 2024. <https://www.definitions.net/definition/auction+house>.
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