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Mustang Shelby GT350R sold at auction for $3.85 million. 🤑

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May 16, 2024

Mustang Shelby GT350R sold at auction for $3.85 million. 🤑

#Ford Mustang #auction

Jack Might Have Lived After All - A $718K Titanic Prop Sparks the Debate Again

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March 31, 2024

Jack Might Have Lived After All - A $718K Titanic Prop Sparks the Debate Again

#auction #Hollywood #Titanic

Scripts from the TV Show "Friends", Saved from Being Thrown Away, were Sold at Auction

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January 13, 2024

Scripts from the TV Show "Friends", Saved from Being Thrown Away, were Sold at Auction

#auction #Friends #screenplay #television #United Kingdom

The near mint condition comic was sold by Heritage Auctions. 💰

December 6, 2022

The near mint condition comic was sold by Heritage Auctions. 💰

#Captain America #auction

Diana auctioned some of her dresses for cancer and AIDS charities.💰

December 6, 2022

Diana auctioned some of her dresses for cancer and AIDS charities.💰

Diana, Princess of Wales

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auction

An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. The open ascending price auction is arguably the most common form of auction in use today. Participants bid openly against one another, with each subsequent bid required to be higher than the previous bid. An auctioneer may announce prices, bidders may call out their bids themselves, or bids may be submitted electronically with the highest current bid publicly displayed. In a Dutch auction, the auctioneer begins with a high asking price for some quantity of like items; the price is lowered until a participant is willing to accept the auctioneer's price for some quantity of the goods in the lot or until the seller's reserve price is met. While auctions are most associated in the public imagination with the sale of antiques, paintings, rare collectibles and expensive wines, auctions are also used for commodities, livestock, radio spectrum and used cars. In economic theory, an auction may refer to any mechanism or set of trading rules for exchange.

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