auksjon
Auksjon is a form of public sale in which goods or services are sold to the highest bidder. An auction is typically conducted by an auctioneer who calls out prices as bidders raise their hands or use bidding devices. The winning bid becomes the hammer price; buyers usually pay the bid amount plus any buyer's premium or fees. Ownership passes to the buyer after payment and any required documentation is processed.
There are several auction formats. In an English auction the price rises as bidders bid until no
Before bidding, items are described and may be inspected. Bids typically advance in fixed increments. Some auctions
Auctions are used for art and antiques, collectibles, vehicles, real estate, and industrial equipment. They are
Etymology: The term auksjon is cognate with the English "auction," deriving from Latin auctio via French and