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Prof. Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.

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Auction in older documents also Verauktionierung, Gant, Lizitation und Subhastation (auction)

In relation to the financial market, a transaction on the market in the form of an auction (the process in which multiple parties bid to determine who will buy an item from a seller). Since about 1960, the word tender replaced the term auction in financial language. Many special forms of auction have emerged, some of which are characteristic of particular markets. – See adjection, reverse auction, market, auction-determined, spot price, tender process, auctioneer.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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