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Show did made one wonder just what kind of tongue he possessed that it was so flexible. The following article was written at a later time and published in the National Wool Grower and suits the subject matter at this point. It was very enlightening and helped the Madsens appreciate the Ram Sale more than they had at first. SELLING AT AUCTION The word "auction" is derived from the Latin word auctio, meaning an increase or an enhancement; hence, the name has been applied to the public sale of property at which people bid against one another. It is interesting to know that the auction method is an extremely old and long established custom in the disposition of property. According to history, auctions existed at least 500 years before the time of Christ. Herodotus described the customs which prevailed in Babylon-ion villages of diposing of maidens in marriage by delivering them to the highest bidder in an assembly held annually for that purpose. Public auctions were likewise a common practice among the Romans at an early date. History reveals the fact that the treasurer of the Roman Empire sold booty and prisoners of war at auction. From reliable authority, we gather that the entire Roman Empire was sold at auction. Most sources of information dwell extensively upon the fact that the auction method was the Roman method of judging values. England used the auction method at an early date. By an act of William the 143 |
