Sale of tea in an auction room on a stipulated date at a specific time Tea auctions are held in India, Sri Lanka, Indonesia, Kenya and Malawi - these auctions only sell teas from their particular areas The London Tea Auction, held every Monday morning (barring public or bank holidays) in the City of London is the only true international tea auction, where teas from all over the world are sold
An offering of coins for sale where the buyer must bid against other potential buyers, as opposed to ordering from a catalog, price list, or advertisement at a set price
The selling of real or personal property to the highest bidder by a person licensed and authorized to sell the property The auctioneer is employed by the owner or seller of the property as an agent and normally receives a percentage of the sales price as his or her commission