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With a public auction, the seller does not have control over what will happen. This means it is more of a high-risk process than a private auction. However, with private auctions, the timetable is usually undefined. The sale of something may occur quickly or it could stretch out weeks and months.
Private auction is similar to open auction, except publishers restrict participation to selected advertisers only. Unlike open auctions, this private deal gives an exclusive group of advertisers priority to bid on the inventory before it becomes available in the open marketplace.
Synonyms of public sale (noun auction) auctioneering. Dutch auction. roup. sale by auction.
A government auction or a public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government or property which is sold under the authority of a court of law or a government agency with similar authority.
Public auction or ?auction? means any public sale of real or personal property in any manner, whether in-person, via written offers or bids, or online, when offers or bids are made by prospective purchaser and the property is sold to the highest bidder.