Public Sale

Posted in Marketing and Strategy Terms, Total Reads: 953

Definition: Public Sale

When auction or any kind of sale of merchandise or property is kept open it is known to be public sale. It is also known as auction sometimes where property or goods are sold to the higher bidder.

Public Sale is an auction or sale that can be attended by any person and they are open to bid for the goods on sale. Public Sale is conducted openly either by auction or sherrif’s sale. As a general notice an advertisement or public notice is issued to inform public about the sale. Public sale occurs at fixed place and time, where goods are sold to the highest bidder.

Auction is attended by various bidders intending to buy goods or property by offering highest bid to outbid other bidders. Auction is carried by auctioneer who is generally not seller and acts as an agent in carrying out the auction.


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