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Auctions have existed for more than 2,000 years and continue to grow in popularity every year. An auction occurs when consumers gather physically or online to buy an item by bidding against each other until the highest offered price is reached. Records handed down from ancient Greeks document auctions occurring as far back as 500 B.C. At this time, women were auctioned off as wives. In Rome, around the time of Christ, auctions were popular for family estates and the selling of war plunder. One of the most significant historical auctions occurred in 193 A.D. when the Praetorian Guard put the...
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