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A school has been criticised for asking pupils to take part in a fictional slave auction as part of a history lesson.
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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.
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. In 2007, a Roman-era bronze sculpture of "Artemis and the Stag" was sold at Sotheby's in New York for US.6 million, by far exceeding its estimates and at the time setting the new record as the most expensive sculpture as well as work from antiquity ever sold at auction.
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.
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Four times a year, in March, June, September and December the auction house anticomondo is a meeting point for collectors of toys from all over Europe.
Besides of high-quality tin toys and railway trains dating from about 1890 to 1970, model cars, dolls, teddy bears, advertising features and expert literature will go under the hammer.