Some history
Sale by auction is an undeniably modern selling method thanks to its effectiveness.
Yet the way in which it is organized is very much inspired by the auctions of the Roman era.
Yet the way in which it is organized is very much inspired by the auctions of the Roman era.
In ancient Rome, the term auctio referred to all types of auction, sales conducted by individuals and those conducted by the State, both voluntary sales and forced sales.
Various formalities surrounded them :
• They were preceded by advertising by means of posters or proclamations announcements made by the praeco, the town crier ;
• They caused a specification sheet or catalogue to be written, entitled the lex bonorum vedendorum ;
• They were conducted through a public official, the magister and intermediary public officials, the auctionatores ;
• The auctionatores were the auctioneers who conducted the auctions with the help of the town crier, the praeco, in the auction room which was called the atrium auctionarium.
An article in a previous version of the French Code of Civil Procedure, dating from the early 20th century even specified that auctions could be announced by ringing a bell and banging a drum.
The notaries of Châtelet in Paris have been auctioning property by the candle method since the 15th century. These are the public officials who are entitled to conduct property auctions.
Important to note
• Sale by auction is a very modern selling method.
• It existed in the days of the Hebrews, Greeks and Romans.
• They were preceded by advertising by means of posters or proclamations announcements made by the praeco, the town crier ;
• They caused a specification sheet or catalogue to be written, entitled the lex bonorum vedendorum ;
• They were conducted through a public official, the magister and intermediary public officials, the auctionatores ;
• The auctionatores were the auctioneers who conducted the auctions with the help of the town crier, the praeco, in the auction room which was called the atrium auctionarium.
An article in a previous version of the French Code of Civil Procedure, dating from the early 20th century even specified that auctions could be announced by ringing a bell and banging a drum.
The notaries of Châtelet in Paris have been auctioning property by the candle method since the 15th century. These are the public officials who are entitled to conduct property auctions.
Important to note
• Sale by auction is a very modern selling method.
• It existed in the days of the Hebrews, Greeks and Romans.
Send this pageFind out more the auctions
• What is a sale by auction ?
• Why sell or buy by auction ?
• Who sells ? Who buys ?
• Some history
