Fire sale
They are said to occur in the financial markets when bidders who value assets highly are prevented from bidding on them, depressing the average selling price below what it otherwise would be.
Historical Society and Papers Relating to the History of the Town Read by Some of the Members the following entry is found: In December, 1856, the account of an extensive fire in the American House mentions the following occupants: E. B. Gee, clothing; T. B. Choate, drugs; J. C. Tenney, boots and shoes; Maraton Upton, dry goods; and M. W. Hayward, groceries.
9 Rollstone block, and advertised "Extraordinary fire sale; customers are invited to call and examine goods which are still warm.
On the other hand, trades in a fire sale often bring a team draft picks and prospects who have little to no major-league experience in their sport, in exchange for proven, experienced veterans.
Weeks after winning the 1997 World Series, the Florida Marlins began trading away several of their high salary players and key cogs in the championship run, with Moisés Alou and Al Leiter among the first of many to go throughout the off-season and well into the 1998 season.
Mack traded, sold or released most of the team's star players soon after, in what could be considered as the first fire sale in organized sports.
On the same day he traded another future Hall of Famer, sending Lefty Grove, Max Bishop and Rube Walberg to the Boston Red Sox for Rabbit Warstler, Bob Kline and $125,000.
In April 2023, the Athletics ceased negotiations with the city of Oakland, California, where the team had played since 1968, in favor of constructing a stadium on a plot of land near Interstate 15.
Another infamous fire sale took place immediately after the 2021-22 MLB lockout, when the Cincinnati Reds traded, refused to sign, or waived most of their star players, including Nick Castellanos,[9] Jesse Winker, and Eugenio Suarez.
Several star players like Matt Duchene, Mike Hoffman, Mark Stone and team captain Erik Karlsson were traded in exchange for declining veterans, prospects and draft picks.
Many perceived the fire sale as Senators' management being unwilling to sign stars to long-term, expensive extensions, as many of them would be eligible to become free agents after the season.
