auction house
An "auction house" is central to the auction process, acting as a mediator between sellers and buyers through competitive bidding.
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Definition
B2Business
(general)A company that organizes and conducts auctions, facilitating the sale of items to the highest bidder.
Example
- Sotheby's is a renowned auction house known for selling fine art and antiques.
- The auction house took a commission from the final sale price.
B2Commerce
(general)A venue where auctions are held, and items are sold through a bidding process.
Example
- The painting was sold at the auction house for a record price.
- He attended the auction house to bid on a rare book.
Similar
Terms that have similar or relatively close meanings to "auction house":