Back to the history of auction!

According to Wikipedia,

"Auction is an uncommon way of negotiating the price for
exchanging the goods and commodities."

Auctions were recorded before 500 B.C . Romans and Persians were the first people who initiated the auction. Nowadays auctions are made only upon products, but if you look back the history auctions are used for selling slaves, soldiers, and some war assets.


There was a significant & historical auction which was happened during the year 193 A.D, (i.e) The entire roman empire was put into an auction.


During the 17th and 18 the century people in some parts of england were used candle auction! 

Candle auction: Auctions contines until a lighted candle expires.(i.e) No one knows when the auction would end, but until the candle expires the people will continue the bidding

There are several numbers of auctions!

Auctions can be classified in to two categories
 

Namely,

1. Primary Auction 2. Secondary Auction

Primary auctions:

• English auction
• Dutch Auction
• Blind auction 
• Vickrey auction

We have discussed the topic in detail here, you can find more ideas here -> 
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