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11
Jun

The history of Auctions

By: Brandon Nathan

The History of Auctions: The Past “The Word Auction” Was derived from the Latin word “Auctus” which means “increasing”. The First Auctions Babylon 500 B.C., Women were auctioned off as wives The descending method of sale was used Returns were allowed Dowries and other offers were added for less attractive women It was considered illegal to allow a daughter to be “sold” outside of the auction method. Rome 30 A.D., Rome was the first nation to license auctioneers. Marcus Aurelius sold family furniture at auction to satisfy debts. Roman soldiers sold war plunder at auction.

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