Auctioning: meaning, definitions and examples

Historical Origins

• The practice of auctioning dates back to ancient Babylon, where records show auctions were held around 500 B.C.
• Roman soldiers auctioned off their belongings to raise money after the fall of the Roman Empire, showing the method's longstanding utility.

Economics

• Auctioning is a key method for allocating resources and can lead to more competitive prices compared to fixed pricing.
• Different types of auctions, like English, Dutch, or sealed-bid, can significantly impact how much an item sells for, reflecting various bidding strategies.

Pop Culture

• Television shows like *The Price is Right* and *Storage Wars* have popularized auctioning as a form of entertainment.
• Online auctions, especially on platforms like eBay, have transformed the auctioning landscape, enabling global participation.

Art and Collectibles

• Auction houses like Sotheby’s and Christie’s are famous for selling high-value art pieces, often reaching millions in bids.
• Some of the most valuable paintings have been sold at auction, such as Leonardo da Vinci's 'Salvator Mundi,' which fetched over $450 million.

Technology

• The emergence of online auction sites has led to new bidding strategies, discovered through algorithms and consumer behavior analysis.
• Real-time bidding systems are now utilized for digital advertising, simulating the auctioning process to select ads displayed to users.

This word's position of #34,009 indicates it's among the more rare English words. While understanding it broadens your vocabulary, focus on more common words first.

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• 34006 denotative
• 34007 jiggling
• 34008 disfranchise
• 34009 auctioning
• 34010 suspenseful
• 34011 dolefully
• 34012 tangibly
• ...