A system of sales where goods are sold to the highest bidder is known as
Answer Details
An auction sale is a system of sales where goods are sold to the highest bidder. In an auction, the seller offers goods or services for sale, and buyers place bids to purchase them. The highest bidder at the end of the auction is considered the winner and must pay for the goods or services purchased. Auction sales are common in various industries, including art, real estate, and commodities. They provide a fair and open platform for buyers to acquire goods or services at a competitive price.