Auction
Auction - 1. A specially organized and periodically active market for the sale of goods, property from public auction to the buyer who offered the highest price. 2. English auction - an auction on which the bids rise from the bottom up. 3. The Dutch auction is an auction on which bids start at the highest bid and are lowered until there is a buyer. The auction can sell real estate, antiques, works of art, etc. In addition to voluntary, auctions may be compulsory - by decision of the judiciary. Volunteers are organized by the owners of the goods for the purpose of the most favorable sale.