public auction
Competitive open sale
A public auction is a sale open to anyone, where items go to the highest bidder.
The term distinguishes from private sales or invitation-only auctions.
Government agencies hold public auctions to dispose of seized property, surplus equipment, or foreclosed real estate: The county sheriff announced a public auction of the condemned vehicles.
- auctioneerConducts public sales
- bidOffer to purchase
- opening bidFirst price proposed
- foreclosureLender seizes mortgaged property
- bankruptcy saleSelling assets to pay debts
estate sale · estate liquidation · hammer price · competition · gavel · reserve price · buyer's premium · competitive bidding · going once · going twice · lot number · appraisal · fair market value · absentee bid · contract law · going · antiques · fraud prevention
- surplus auctionsgovernment auctions, surplus auctions, surplus goods, military surplus, army surplus
- salessale, sales, selling, salesperson, salesman
- liquidationsliquidation, fire sale, closeout, forced sale, bankruptcy sale
- forced salesforeclosure sale, sheriff's sale, tax sale, forced sale, seizure
- foreclosureforced sale, foreclosure prevention, foreclosure notice, foreclosure sale, mortgage default
- tax lienstax lien, tax deed, tax sale, tax foreclosure, tax arrears
public auctionprivate sale
Transaction without public offering
direct sale · backroom deal · handshake deal · retail sale · barter