1988 | OriginalPaper | Chapter
Introduction
Author : Richard M. Courtenay Lord
Published in: Auctioning Real Property
Publisher: Macmillan Education UK
Included in: Professional Book Archive
Activate our intelligent search to find suitable subject content or patents.
Select sections of text to find matching patents with Artificial Intelligence. powered by
Select sections of text to find additional relevant content using AI-assisted search. powered by
The origin of auctions reaches back into the ancient civilisations and almost certainly came about as a logical extension of barter. It is easy to imagine the scenario of a street trader in some bygone city faced with a throng of people anxious to buy his wares and chancing upon a crude form of auctioning the goods to the highest bidders. Soon others followed his example and gradually over the years disputes and arguments created a crude style and form of auction. From here it was but a small step to adapt the system for the sale of goods to anything for which there was a demand. The auction sale of real property as we know it today has been perfected and honed to its present form over many hundreds of years.