Problem
1. Find an auction to buy or sell the following items: a house, a car, a government bond, and licenses for the electromagnetic spectrum. What do you have to do to become a bidder at one of these auctions? How is the auction conducted?
2. Suppose you want to purchase a painting at Sotheby's, a famous English auction house. How would you do so? How would the auction operate? In what ways would it differ from buying art on eBay or craigslist?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.