Auction House

  

Maybe you consider this your house when the rent is due. But in the general course of conversation, an auction house is a company that facilitates auctions (See: Auction). These firms provide facilities, personnel and expertise in order to conduct an auction. In return, they typically receive a percentage of the sale price.
Famous auction houses include Christie’s and Sotheby’s. You'll recognize them from any news report where a Picasso or Monet sells for $100 million, or some long-lost piece of memorabilia - the guitar pick John Lennon used to write "Revolution" or the socks Roger Maris was wearing when he hit home run number 61 - gets snapped up by a buyer, who would prefer to remain anonymous.

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