AUCTIO, Auction, a kind of Sale among the ancient Romans, perform’d by the public Cryer, sub hasta, that is, under a Spear stuck up on that occasion, and by some Magistrate who made good the Sale by Delivery of the Goods. This was termed Auctio, q.d. increase; because according to Sigonius, the Goods were sold to him, qui plurimum rem augeret, who would bid most for them. And hence our English Word, Auction, which signifies the same thing among us.
AUCTIO
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- Written by: Ephraïm Chambers
- Category: Unclassified