An auction house is a company or institution that facilitates the buying and selling of items through auctions. Auction houses typically specialise in specific types of goods, such as fine art, antiques, collectibles, property, or cars. They serve as intermediaries between sellers and buyers, providing a platform for sellers to showcase their items and buyers to place bids.
Auction houses typically employ auctioneers or auction specialists who conduct the bidding process. They may organise auctions in physical locations, such as dedicated auction rooms or event spaces, or conduct online auctions through their websites or third-party platforms. Auction houses often handle the marketing, promotion, and cataloging of items, ensuring a transparent and efficient auction process.
In addition to facilitating the auction itself, auction houses may provide services such as appraisals, valuations, authentication, and storage of items. They may charge fees or commissions based on a percentage of the final sale price or a combination of buyer and seller premiums.
Locally Auction House also relates to property auction business.
If you are purchasing or selling property at auction please click the button below to receive a quote for an auction pack review or/and auction conveyancing.
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