An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction may refer to any mechanism or set of trading rules for exchange.

Read more about AuctionHistory, Time Requirements, Characteristics, Common Uses, Terminology, JEL Classification

Other articles related to "auction, auctions":

Stockholms Auktionsverk
... Auktionsverk (Swedish for "Stockholm's Auction House"), founded in 1674 in Sweden, is the world's oldest auction house ... each year at the Nybrogatan showrooms in central Stockholm, high quality items are sold by auctions requiring about 90 seconds per item ... Apart from serving the domestic market for art and antiques these two auction houses (and also third-ranking Uppsala Auktionskammare, established in 1731) are prominent in the ...
Auction - JEL Classification
... The Journal of Economic Literature (JEL) classification code for auctions is D44. ...
Lixtor - Controversy
... dispute with TradeMe, Lixtor listed their auction site for sale on TradeMe on November 17, 2008, with the starting bid $100,000,000 ... However the auction was disabled by the TradeMe administrators hours after the auction ... Nonetheless, Lixtor re-listed the auction minutes after their listing was disabled by TradeMe moderators, but this second listing was also removed hours later ...
Second Market, Inc. - Markets Trading On SecondMarket - Auction-Rate Securities Market
... As a result of the economic crisis, in February 2008, auction-rate securities (ARS) experienced widespread auction failures that left hundreds of billions of dollars “frozen” in suddenly ... to the trading of all ARS types including Auction-rate CDOs Auction-rate preferred securities (ARPS) Municipal auction-rate securities (MARS) Student-loan auction-rate securities (SLARS) ...
Swoopo - See Also
... Bidding fee auction All-pay auction Dollar auction. ...

Famous quotes containing the word auction:

    The white American man makes the white American woman maybe not superfluous but just a little kind of decoration. Not really important to turning around the wheels of the state. Well the black American woman has never been able to feel that way. No black American man at any time in our history in the United States has been able to feel that he didn’t need that black woman right against him, shoulder to shoulder—in that cotton field, on the auction block, in the ghetto, wherever.
    Maya Angelou (b. 1928)