An auction is the sale of personal property that is carried out publicly through bids and tenders.
An auction consists of the sale of movable property that is carried out publicly through a bidding and bidding mechanism, according to the first meaning of the concept mentioned by the Royal Spanish Academy ( RAE ). The term of our language derives from the Hispanic Arabic almunáda , in turn coming from the classical Arabic word munādāh.
Justice acts in the auction and is responsible for awarding the good to the person who offers the highest price . This means that, in the bidding , the person who is willing to pay the greatest amount of money is the one who ends up keeping the product.
Coin concept
By extension, sales made by individuals following a similar methodology are called auctions, although without the intervention of Justice . The auction, in this case, is an auction that is carried out for the marketing of jewelry and other merchandise, usually at a low price. The physical space where operations are carried out is also called an auction.
Likewise, we must not overlook the existence of many companies, both physical and online, that are stores dedicated to the sale of antique products that have the word almoneda in their name.
In their origins, auctions were held to market those objects that were obtained in wars (that is, the goods that were taken from enemies). An expert was in charge of appraising the loot and, based on the value he established, the auction began. The highest offer was the way to obtain what was sold.
An auction is an auction.
A Spanish fair
In Spain , currently called Almoneda , it is a fair for antiques, art galleries and collecting that has taken place annually since 1991 .
This fair is held annually at IFEMA , which is aimed at the general public and takes place between the months of March and April. Among the exhibitors that shape this event we can highlight everything from art galleries to antique dealers, art publications and even services related to antiques.
Among the products that can be found in Almoneda, the following stand out:
- Restoration products.
- Vintage style clothing and accessories.
- Furniture and decorative objects from the 60s and 70s.
- Archeology objects.
- Unique pieces with great historical past.
Commonwealth Coin
It is also interesting to highlight that centuries ago a very interesting proposal was carried out that responded to the name of Almoneda de la Commonwealth or Almoneda de Carlos I. It was launched in the autumn of 1649 and through it what was done was to offer around more than 1,570 paintings from both England and abroad.
It was a measure that was carried out with the purpose of being able to get money. In that auction were works of art by collectors such as the Duke of Hamilton , the Earl of Arundel and the Duke of Buckingham , forming a numerous set of objects of incalculable value.