Maybe you consider this your house when the rent is due. But in the general course of conversation, an auction house is a company that facilitates auctions (See: Auction). These firms provide facilities, personnel and expertise in order to conduct an auction. In return, they typically receive a percentage of the sale price.
Famous auction houses include Christie’s and Sotheby’s. You'll recognize them from any news report where a Picasso or Monet sells for $100 million, or some long-lost piece of memorabilia - the guitar pick John Lennon used to write "Revolution" or the socks Roger Maris was wearing when he hit home run number 61 - gets snapped up by a buyer, who would prefer to remain anonymous.
Related or Semi-related Video
Finance: What is a Liquid Market?17 Views
Finance allah shmoop What is liquid market Well it's one
that trades Ah lot High volume Lots of buyers Lots
of sellers Liquid lots of cash sloshing this way In
that way Go this way and that Did you ever
see a liquid market go this way and that That
little song Did you ever see a lassie Never mind
All right Weir Liquid markets Good Well because they implied
there's Lots of cash ready willing and able to be
put to work And that's usually a sign of a
healthy risk seeking active market versus risk averse one which
is you know hiding Ah liquid market means that investors
want to put their cash toe work that they have
actually saved cash along the way and or that they
have relatively easy access to credit And you can think
about it from the perspective of your kindly loving realtor
who wants a world where lots of people are buying
homes But in orderto have that happen you have to
have lots of people who are also selling homes at
the same time Otherwise prices just go higher and higher
with no supply to meet demand And at the end
of the day in real estate and it's in the
stock market while the most important thing yes that the
brokers get pays So that's a liquid market one that
trades a lot like it's Wet trading back and for
sloshing around not ice Where everything's you know all jammed 00:01:22.109 --> [endTime] up No needs heat or an animal or something
Up Next
What is a Dutch Auction? A Dutch Auction is either one where closed quantity and price bids are entered and the price is set at the highest price t...
What is an Auction Market? Auction markets are the common stock exchanges. They allow buyers and sellers to enter bids and offers; trades occur whe...