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The word auction comes from the Latin auctio which means to increase or add.
© Chloroformzt Official - Est 2009
10 Interesting Fact About Auctions
10 Interesting Fact About Auctions
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The word auction comes from the Latin auctio which means to increase or add.
In ancient Greece, auction was used to sell booty of war.
In England in the 18th century, the auction was used to sell slaves.
Initially, the auction is done by cutting the rope or breaking the plate as the final sign of the highest offer.
The oldest auction known from 500 BC in ancient Greece.
The largest auction in history was held in 2010 in Dubai with a total sales value of more than US $ 400 million.
In the United States, the auction is used to sell former presidential goods and members of the congress.
A Pablo Picasso painting was sold for US $ 179 million at the auction in 2015.
In Indonesia, auction is used to sell confiscated or booty goods from criminal acts.
Online auctions are increasingly popular lately with platforms such as Ebay and Amazon.
