Nowadays, auctions of items — from horses to jewelry to furniture, are common place. But when did the very first auction take place?
It’s actually rather difficult to say, as auctions have been held since the beginning of civilization – as soon as people could communicate with each other, and had enough specie to give to someone else for goods they wnted.
For example, in Babylon, families sold their daughters for marriage at an auction. During Roman times, the property of defeated soldiers was sold at auction.
The Roman Empire is also perhaps infamous for the event in the year 193 A.D. when the Praetorian Guard put their services up for auction. On March 23, The Praetorian Guard killed the emperor Pertinax, then offered the empire to the highest bidder. Didius Julianus bid 6,250 drachmas per Guard. However, his victory did not last long. He was beheaded two months later when Septimius Severus conquered Rome.
After that, auctions fell out of favor until the 18th century, when it gradually came back into favor.
