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One of the most significant historical auctions occurred in the year 193 A. when the entire Roman Empire was put on the auction block by the Praetorian Guard.
On 28 March 193, the Praetorian Guard first killed emperor Pertinax, then offered the empire to the highest bidder.
No one likes buying home appliances, there, we said it!
I mean, be honest, the only time you think about them is when you're renovating, or when that old machine packs it in.
In economic theory, an auction may refer to any mechanism or set of trading rules for exchange. In 2007, a Roman-era bronze sculpture of "Artemis and the Stag" was sold at Sotheby's in New York for US$28.6 million, by far exceeding its estimates and at the time setting the new record as the most expensive sculpture as well as work from antiquity ever sold at auction.
For most of history, auctions have been a relatively uncommon way to negotiate the exchange of goods and commodities.
In practice, both haggling and sale by set-price have been significantly more common.
According to Herodotus, in Babylon auctions of women for marriage were held annually.
In a Dutch auction, the auctioneer begins with a high asking price for some quantity of like items; the price is lowered until a participant is willing to accept the auctioneer's price for some quantity of the goods in the lot or until the seller's reserve price is met.
While auctions are most associated in the public imagination with the sale of antiques, paintings, rare collectibles and expensive wines, auctions are also used for commodities, livestock, radio spectrum and used cars.
Then there's the added stress of buying one that's reliable, yet won't break the bank. You see, we’re online only, and this means no expensive storefronts or long queues to manage.