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signifies generally “an increasing, an enhancement,” and hence the name is applied to a public sale of goods, at which persons bid against one another. As a species, auctio signifies a public sale of goods by the owner or his agent, or a sale of goods of a deceased person for the purpose of dividing the money among those entitled to it, which was called auctio hereditaria. The sale was sometimes conducted by an argentarius, or by a magister auctionis; and the time, place, and conditions of sale were announced either by a public notice (tabula, album), or by a crier (praeco).

The usual phrases to express the notification of a sale are auctionem proscribere, praedicare; and to determine on a sale, auctionem constituere. The purchasers (emptores), when assembled, were sometimes said ad tabulam adesse. The phrases signifying to bid are liceri, licitari, which was done either by word of mouth or by such significant hints as are known to all people who have attended an auction. The property was said to be knocked down (addici) to the purchaser. An entry was made in the books of the argentarius of the sale and the money due, and credit was given in the same books to the purchaser when he paid the money (expensa pecunia lata, accepta relata). Thus the book of the argentarius might be used as evidence for the purchaser, both of his having made a purchase and having paid for the thing purchased. If the money was not paid according to the conditions of sale, the argentarius could sue for it.

The praeco or crier seems to have acted the part of the modern auctioneer, so far as calling out the biddings and amusing the company. Slaves, when sold by auction, were placed on a stone or other elevated thing, and hence the phrase homo de lapide emptus. It was usual to put up a spear (hasta) in auctions—a symbol derived, it is said, from the ancient practice of selling under a spear the booty acquired in war. The term asta publica is used in Italy at the present time to signify an auction. By the auctio, the Quiritary ownership in the thing sold was transferred to the purchaser. See Bonorum Emptio; Sectio.

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