An is a specialized business or venue where goods and assets—ranging from fine art and collectibles to industrial commodities—are sold to the highest bidder through a public competitive process. While historic institutions like Christie's and Sotheby's dominate high-end art, modern auction houses operate across various sectors, including digital economies like World of Warcraft . How Auction Houses Operate
Houses typically charge a seller's commission and a buyer's premium (a percentage added to the hammer price). Major Global Auction Houses auction house
Items are sourced from individuals, estates, or institutions looking to liquidate assets. An is a specialized business or venue where
Experts evaluate "lots" (items for sale) to provide estimated values and set a Suggested Opening Bid (SOB) . auction house