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Mexico wins removal of pre-Hispanic artifact at Vienna sale

The government of Mexico said Thursday it succeeded in getting a pre-Hispanic artifact removed from a planned Vienna auction, part of an effort to win the return of archaeological treasures that has largely been unsuccessful ...

Buzz Aldrin's famous 1969 moon walk picture sells at auction

More than 70 original NASA photographs including a celebrated image of Buzz Aldrin's moon walk taken by Neil Armstrong were sold at auction in Copenhagen on Wednesday for more than 155,000 euros ($172,000).

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.

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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