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Einstein note on happy living sells for $1.56 million

A note that Albert Einstein gave to a courier in Tokyo briefly describing his theory on happy living sold at auction in Jerusalem on Tuesday for $1.56 million, the auction house said.

Discrete convex analysis for analysis of iterative auctions

Researchers are investigating auction models where there are many different indivisible goods such as houses and cars. Notably, algorithms known as iterative auctions are often used to compute equilibrium prices of goods.

Dog kennel hit by meteorite sells at auction

A Christie's auction of rare meteorites Wednesday sold a rock from space that narrowly missed a German Shepherd when it smashed into his kennel in Costa Rica.

Handwritten example of famous Einstein equation gets $1.2M

A letter written by Albert Einstein in which he writes out his famous E = mc2 equation has sold at auction for more than $1.2 million, about three times more than it was expected to get, Boston-based RR Auction said Friday.

T-Rex skeleton to go under hammer in Switzerland

A Tyrannosaurus-Rex skeleton dating back 67-million years will be auctioned in Switzerland next month, marking the first such sale in Europe, the auction house said Saturday.

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Auction

An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction may refer to any mechanism or set of trading rules for exchange.

There are several variations on the basic auction form, including time limits, minimum or maximum limits on bid prices, and special rules for determining the winning bidder(s) and sale price(s). Participants in an auction may or may not know the identities or actions of other participants. Depending on the auction, bidders may participate in person or remotely through a variety of means, including telephone and the internet. The seller usually pays a commission to the auctioneer or auction company based on a percentage of the final sale price.

This text uses material from Wikipedia, licensed under CC BY-SA