Auction house

An auction house is a business establishment that facilitates the buying and selling of assets, such as works of art and collectibles.

[1] The auction house is the physical facility where the objects are catalogued, displayed, and presented to the perspective buyers through a bidding process system.

The private individual or company managing the house, usually offer services such as clearances, collection of items, shipping, while also advising through valuations, and on fixing reserve amounts.

[2] Two auction houses emerged in eighteenth-century England that persisted leading the market.

Auctioned goods may vary from fine wines to toys, from furniture to entire estates.