AUCTIONED Meaning and
Definition
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Auctioned is a verb commonly used to describe the process of selling or buying goods or services through an auction. An auction is a public or private event where various items are presented to potential buyers who compete with one another by offering bids until the highest bid is achieved. To auction is to submit an item or service for sale at an auction, employing a bidding system wherein potential buyers present successive and increasing offers for the specific item or service.
In an auction, the seller sets a starting price, often referred to as the opening bid, which serves as the foundation for subsequent offers. Potential buyers present their bids during a specified period, usually a set timeframe determined by the auction organizer. The bidding process can either be conducted in person, where individuals are physically present at the auction venue, or online, through various digital platforms that enable remote participation.
Once the bidding period is complete, the auctioneer declares the item or service as "sold" to the highest bidder. The successful bidder then becomes the new owner of the item or is entitled to receive the service being auctioned. The transaction typically involves the winner providing payment to the seller in accordance with the terms and conditions established by the auction.
Auctions are commonly used for a wide range of goods and services, including art, antiques, real estate, vehicles, and even intangible assets like domain names or intellectual properties. The auction process adds an element of excitement and competition to the buying and selling of goods, often resulting in higher prices and, at times, unexpected outcomes.
Top Common Misspellings for AUCTIONED *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for AUCTIONED
Etymology of AUCTIONED
The word "auctioned" is derived from the verb "auction", which dates back to the 1590s in English. The term can be traced back to the Latin word "auctio" meaning "an increasing, an augmenting, an enhancing", which in turn comes from the verb "augere" meaning "to increase" or "to augment". The idea behind the term is that the price of an item or property is increased through bids in a public sale or auction.
Similar spelling words for AUCTIONED
Conjugate verb Auctioned
CONDITIONAL
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FUTURE
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PRESENT
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