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145-598: Hôtel Drouot is a large auction place in Paris, known for fine art, antiques, and antiquities. It consists of 16 halls hosting 70 independent auction firms, which operate under the umbrella grouping of Drouot . The firm's main location, called Drouot-Richelieu, is situated on the Rue Drouot in the 9th arrondissement of Paris , on a site once occupied by the Paris Opera's Salle Le Peletier . The nearest Métro station

290-458: A family home being sold by the heirs). However, more recently, selling at auction has become an alternative to a normal property sale, due to the speedy nature of the entire process. In China, land auctions are under the sole control of local government officials. Because some developers may use bribes to please government officials to obtain the right to purchase the land, the central government requires that future land auctions be conducted using

435-519: A footrace , were used instead of the expiration of a candle. This type of auction was first mentioned in 1641 in the records of the House of Lords. The practice rapidly became popular, and in 1660 Samuel Pepys ' diary recorded two occasions when the Admiralty sold surplus ships "by an inch of candle". Pepys also relates a hint from a highly successful bidder who had observed that, just before expiring,

580-405: A priestly role . He could not marry a woman from a senatorial family, nor achieve legitimate senatorial rank himself, but during the early Empire, freedmen held key positions in the government bureaucracy, so much so that Hadrian limited their participation by law. The rise of successful freedmen—through political influence or wealth—is a characteristic of early Imperial society. The prosperity of

725-406: A spectrum auction in order to prevent the spread of corruption. Although this method cannot completely solve the problem of corruption, it is still a significant contribution to the auction. A government auction is simply an auction held on behalf of a government body generally at a general sale. Items for sale are often surplus needed to be liquidated. Auctions ordered by estate executors enter

870-484: A bidder can specify that they will pay for items A and B, but only if they get both . In combinatorial auctions, determining the winning bidder(s) can be a complex process where even the bidder with the highest individual bid is not guaranteed to win. For example, in an auction with four items (W, X, Y and Z), if Bidder A offers $ 50 for items W & Y, Bidder B offers $ 30 for items W & X, Bidder C offers $ 5 for items X & Z and Bidder D offers $ 30 for items Y & Z,

1015-416: A bidding sheet often left on a table near the item. At charity auctions, bid sheets usually have a fixed starting amount, predetermined bid increments, and a "guaranteed bid" amount which works the same as a "buy now" amount. Other variations of this type of auction may include sealed bids. The highest bidder pays the price they submitted. In private value auctions , every bidder has their own valuation of

1160-567: A brief civil war. Didius was beheaded two months later when Septimius Severus conquered Rome. From the end of the Roman Empire to the 18th century, auctions lost favor in Europe, while they had never been widespread in Asia. In China, the personal belongings of deceased Buddhist monks were sold at auction as early as the seventh century AD. The first mention of "auction", according to

1305-501: A candle-wick always flares up slightly: on seeing this, he would shout his final – and winning – bid. The London Gazette began reporting on the auctioning of artwork in the coffeehouses and taverns of London in the late 17th century. The first known auction house in the world was the Stockholm Auction House , Sweden ( Stockholms Auktionsverk ), founded by Baron Claes Rålamb in 1674. Sotheby's , currently

1450-537: A day in New South Wales . In timber auctions, companies purchase licenses to log on government land. In timber allocation auctions, companies purchase timber directly from the government. In electricity auctions , large-scale generators and distributors of electricity bid on generating contracts. Produce auctions link growers to localized wholesale buyers (buyers who are interested in acquiring large quantities of locally grown produce). Online auctions are

1595-465: A descending English auction. Fattigauktion is a similar Swedish practice involving poor people being auctioned to church organizations. Trade of wives by auctions was also a common practice throughout history. For instance, in the old English custom of wife selling , a wife was divorced by selling her in a public auction for the highest bid. ISIS conducted slave auctions to sell up to 7,000 Yazidi women as reported in 2020. A virginity auction

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1740-425: A fifth of the population and played a major role in the economy. Slavery was a complex institution that supported traditional Roman social structures as well as contributing economic utility. In urban settings, slaves might be professionals such as teachers, physicians, chefs, and accountants; the majority of slaves provided trained or unskilled labour. Agriculture and industry, such as milling and mining, relied on

1885-640: A fine for a crime for which an humilior might receive a scourging . Execution, which was an infrequent legal penalty for free men under the Republic, could be quick and relatively painless for honestiores , while humiliores might suffer the kinds of torturous death previously reserved for slaves, such as crucifixion and condemnation to the beasts . In the early Empire, those who converted to Christianity could lose their standing as honestiores , especially if they declined to fulfil religious responsibilities, and thus became subject to punishments that created

2030-762: A form of E-commerce that relies on the advantages of a digital platform's ability to overcome geographical constraints, provide real-time information and reduce transaction costs, bringing greater convenience to people and allowing more people to participate as bidders, as well as being able to view a greater selection of auctions. Websites like eBay provide a potential market of millions of bidders to sellers. Established auction houses, as well as specialist internet auctions, sell many things online, from antiques and collectibles to holidays, air travel, brand new computers, and household equipment. Private electronic markets use combinatorial auction techniques to continuously sell commodities (coal, iron ore, grain, water, etc.) online to

2175-425: A freedman were born free, with full rights of citizenship. After manumission, a slave who had belonged to a Roman citizen enjoyed active political freedom ( libertas ), including the right to vote. His former master became his patron ( patronus ): the two continued to have customary and legal obligations to each other. A freedman was not entitled to hold public office or the highest state priesthoods, but could play

2320-433: A greater number of bidders due to the possibility of a bargain. If more bidders attend the auction, a higher price might ultimately be achieved because of heightened competition from bidders. This contrasts with a reserve auction , where the item for sale may not be sold if the final bid is not high enough to satisfy the seller. In practice, an auction advertised as "absolute" or "no-reserve" may nonetheless still not sell to

2465-629: A high-achieving group of freedmen is attested by inscriptions throughout the Empire . The Latin word ordo (plural ordines ) is translated variously and inexactly into English as "class, order, rank". One purpose of the Roman census was to determine the ordo to which an individual belonged. Two of the highest ordines in Rome were the senatorial and equestrian. Outside Rome, cities or colonies were led by decurions , also known as curiales . "Senator"

2610-492: A higher price. In 2008, the US National Auctioneers Association reported that the gross revenue of the auction industry for that year was approximately $ 268.4 billion, with the fastest growing sectors being agricultural, machinery, equipment, and residential real estate auctions. The auctions with the largest revenue for the government are often spectrum auctions (typical revenue

2755-571: A higher social class. Most of the emperors were bilingual but had a preference for Latin in the public sphere for political reasons, a "rule" that first started during the Punic Wars . Different emperors up until Justinian would attempt to require the use of Latin in various sections of the administration but there is no evidence that a linguistic imperialism existed during the early Empire. After all freeborn inhabitants were universally enfranchised in 212 , many Roman citizens would have lacked

2900-401: A household or workplace, a hierarchy of slaves might exist, with one slave acting as the master of others. Talented slaves might accumulate a large enough peculium to justify their freedom, or be manumitted for services rendered. Manumission had become frequent enough that in 2 BC a law ( Lex Fufia Caninia ) limited the number of slaves an owner was allowed to free in his will. Following

3045-472: A knowledge of Latin. The wide use of Koine Greek was what enabled the spread of Christianity and reflects its role as the lingua franca of the Mediterranean during the time of the Empire. Following Diocletian's reforms in the 3rd century CE, there was a decline in the knowledge of Greek in the west. Spoken Latin later fragmented into the incipient romance languages in the 7th century CE following

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3190-522: A lasting influence on the development of language , religion , art , architecture , literature , philosophy , law , and forms of government across its territories. Latin evolved into the Romance languages while Medieval Greek became the language of the East. The Empire's adoption of Christianity resulted in the formation of medieval Christendom . Roman and Greek art had a profound impact on

3335-459: A man as an equestrian. The census of 28 BC uncovered large numbers of men who qualified, and in 14 AD, a thousand equestrians were registered at Cádiz and Padua alone. Equestrians rose through a military career track ( tres militiae ) to become highly placed prefects and procurators within the Imperial administration. The rise of provincial men to the senatorial and equestrian orders

3480-560: A married woman could have sex only with her husband, but a married man did not commit adultery if he had sex with a prostitute or person of marginalized status. Childbearing was encouraged: a woman who had given birth to three children was granted symbolic honours and greater legal freedom (the ius trium liberorum ). At the time of Augustus, as many as 35% of the people in Roman Italy were slaves, making Rome one of five historical "slave societies" in which slaves constituted at least

3625-399: A pre-qualified group of buyers (based on price and non-price factors). Furthermore, online auctions facilitate the process for prospective bidders to discover and evaluate items by enabling searches across numerous auctions and employing filters to refine their selections. Roman Empire The Roman Empire was the era of Roman civilisation lasting from 27 BC to 476 AD. Rome ruled

3770-480: A response to their bids. These traffic lights depend on the position of the last bid in the distribution of all bids. A buyout auction is an auction with an additional set price (the 'buyout' price) that any bidder can accept at any time during the auction, thereby immediately ending the auction and winning the item. This means that if an item offers its buyout price at the beginning, one participant can stop all other potential participants from bidding at all, or stop

3915-402: A running race. Bidding fee auction , a variation of all-pay auction, also known as a penny auction, often requires that each participant must pay a fixed price to place each bid, typically one penny (hence the name) higher than the current bid. When an auction's time period expires, the highest bidder wins the item and must pay a final bid price. Unlike in a conventional auction, the final price

4060-417: A sealed bid. The higher bidder wins, paying either the first or second price. Both finalists receive a premium: a proportion of the excess of the second price over the third price (at which English auction ended). An Anglo-Dutch auction starts as an English or Japanese auction and then continues as a Dutch auction with a reduced number of bidders. A French auction is a preliminary sealed-bid auction before

4205-481: A sealed-bid auction, bidders only get to know if their bid was the best. Best/not best auctions are sealed-bid auctions with multiple bids, where the bidders submit their prices like in English auction and get responses about the leadership of their bid. Rank auction is an extension of best/not best auction, where the bidders also see the rank of their bids. Traffic-light auction shows traffic lights to bidders as

4350-427: A sense of "Romanness". Roman society had multiple, overlapping social hierarchies . The civil war preceding Augustus caused upheaval, but did not effect an immediate redistribution of wealth and social power. From the perspective of the lower classes, a peak was merely added to the social pyramid. Personal relationships— patronage , friendship ( amicitia ), family , marriage —continued to influence politics. By

4495-513: A slave's rapist had to be prosecuted by the owner for property damage under the Aquilian Law . Slaves had no right to the form of legal marriage called conubium , but their unions were sometimes recognized. Technically, a slave could not own property, but a slave who conducted business might be given access to an individual fund ( peculium ) that he could use, depending on the degree of trust and co-operation between owner and slave. Within

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4640-479: A spear into the ground around which the spoils of war were left, to be auctioned off. Slaves, often captured as the "spoils of war", were auctioned in the Forum under the sign of the spear, with the proceeds of sale going toward the war effort. The Romans also used auctions to liquidate the assets of debtors whose property had been confiscated. For example, Marcus Aurelius sold household furniture to pay off debts,

4785-542: A vehicle for hosting auctions themselves. As already mentioned in the history section, auctions have been used to trade commodified people from the very first. Auctions have been used in slave markets throughout history until modern times in the post-Gaddafi era Libya . The word for slave auction in the Atlantic slave trade was scramble . A child auction is a Swedish and Finnish historical practice of selling children into slavery-like conditions by authorities using

4930-422: A winner partially based on randomness. The final price for the selected winner is not always conducted according to their final bid. In the case of the second-price ruling as in a Vickrey auction , the final price for the winner is based on the second bidder's price. A Proxy bid is a special case of second-price ruling used by eBay , where a predefined increment is added to the second highest bid in response to

5075-431: A yet higher bid. Auctions with more than one winner are called multi-winner auctions . Multiunit auction , Combinatorial auction , Generalized first-price auction and Generalized second-price auction are multi-winner auctions. Auctions can be cascaded, one after the other. For instance, an Amsterdam auction is a type of premium auction which begins as an English auction. Once only two bidders remain, each submits

5220-418: Is Richelieu - Drouot . Other locations used to exist: Drouot-Montaigne, Drouot-Montmartre, and Drouot-Véhicules. Details of forthcoming auctions are published in the weekly Gazette de l'Hôtel Drouot , sold at newsstands and by subscription. In 2008 Hôtel Drouot was ranked fifth by sales amongst Paris auction houses, after Sotheby's , Christie's , Artcurial , and Ader-Picard-Tajan . The Hôtel Drouot

5365-421: Is a common method for the sale of real estate . Auctions were traditionally used as an alternative to the private sale/treaty method to sell property that, due to their unique characteristics, were difficult to determine a price for. The law does not require a vendor to disclose their reserve price prior to the auction. During the 1990s and 2000s, auctions became the primary method for the sale of real estate in

5510-407: Is a double auction in which the auctioneer takes bids from both buyers and sellers in a market of multiple goods. The auctioneer progressively either raises or drops the current proposed price depending on the bids of both buyers and sellers, the auction concluding when supply and demand exactly balance. As a high price tends to dampen demand while a low price tends to increase demand, in theory there

5655-455: Is a particular price somewhere in the middle where supply and demand will match. A Barter double auction is an auction where every participant has a demand and an offer consisting of multiple attributes and no money is involved. For the mathematical modelling of satisfaction level, Euclidean distance is used, where the offer and demand are treated as vectors. Auctions can be categorized into three types of procedures for auctions depending on

5800-407: Is a secret reserve price auction. However, potential bidders may be able to deduce an approximate reserve price, if one exists at all, from any estimate given in advance by the auction house. The reserve price may be fixed or discretionary . In the latter case, the decision to accept a bid is deferred to the auctioneer, who may accept a bid that is marginally below it. A reserve auction is safer for

5945-408: Is a variant of the English auction in which bids are written on a sheet of paper. At the predetermined end of the auction, the highest listed bidder wins the item. This auction is often used in charity events, with many items auctioned simultaneously and "closed" at a common finish time. The auction is "silent" in that there is no auctioneer selling individual items; the bidders write their bids on

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6090-545: Is an aspect of social mobility in the early Empire. Roman aristocracy was based on competition, and unlike later European nobility , a Roman family could not maintain its position merely through hereditary succession or having title to lands. Admission to the higher ordines brought distinction and privileges, but also responsibilities. In antiquity, a city depended on its leading citizens to fund public works, events, and services ( munera ). Maintaining one's rank required massive personal expenditures. Decurions were so vital for

6235-531: Is derived from auctus , the past participle of the Latin verb augeō , ("I increase"). Auctions have been recorded as early as 500 BC. According to Herodotus , in Babylon, auctions of women for marriage were held annually. The auctions began with the woman the auctioneer considered to be the most beautiful and progressed to the least beautiful. It was considered illegal to allow a daughter to be sold outside of

6380-466: Is derived from the Vickrey auction and means the final deal sealing for the number one bidder is based on the second bidder's price. A No-reserve auction (NR), also known as an absolute auction , is an auction in which the item for sale will be sold regardless of price. From the seller's perspective, advertising an auction as having no reserve price can be desirable because it potentially attracts

6525-458: Is estimated in billions of euros) and quota auctions. In 2019, Russia's crab quota was auctioned for €2 billion. Between 1999 and 2002, the British government auctioned off their gold reserves , raising approximately $ 3.5 billion. The most expensive item to ever be sold in an auction is Leonardo da Vinci's Salvator Mundi in 2017 ($ 450.3 million). In 2018, the yearly revenues of

6670-478: Is the voluntary practice of individuals seeking to sell their own virginity to the highest bid. Cricket players are routinely put up for auction, whereby cricket teams can bid for their services. Indian Premier League (IPL) started annual public auctioning of cricket players in 2008 as an entertainment for mass consumption. Also, Bangladesh Premier League conducts cricket player auctions , starting in 2012. In some countries, such as Australia , auctioning

6815-404: Is traded in the international market. The wine auction business offers serious collectors an opportunity to gain access to rare bottles and mature vintages, which are not typically available through retail channels. In livestock auctions, sheep, cattle, pigs and other livestock are sold. Sometimes very large numbers of stock are auctioned, such as the regular sales of 50,000 or more sheep during

6960-619: Is traditionally regarded as the Pax Romana ("Roman Peace"). The cohesion of the empire was furthered by a degree of social stability and economic prosperity that Rome had never before experienced. Uprisings in the provinces were infrequent and put down "mercilessly and swiftly". The success of Augustus in establishing principles of dynastic succession was limited by his outliving a number of talented potential heirs. The Julio-Claudian dynasty lasted for four more emperors— Tiberius , Caligula , Claudius , and Nero —before it yielded in 69 AD to

7105-424: Is typically much lower than the value of the item, but all bidders (not just the winner) will have paid for each bid placed; the winner will buy the item at a very low price (plus price of rights-to-bid used), all the losers will have paid, and the seller will typically receive significantly more than the value of the item. A senior auction is a variation on the all-pay auction, and has a defined loser in addition to

7250-423: Is usually sealed and the uniform price paid by the investors is typically the best non-winning bid. In most cases, investors can also place so-called non-competitive bids , which indicates interest to purchase the debt obligation at the resulting price, whatever it may be. Some states use courts to run such auctions . In spectrum auctions conducted by the government, companies purchase licenses to use portions of

7395-604: The Battle of Actium in 31 BC. In 27 BC the Senate gave him the title Augustus ("venerated") and made him princeps ("foremost") with proconsular imperium , thus beginning the Principate , the first epoch of Roman imperial history. Although the republic stood in name, Augustus had all meaningful authority. During his 40-year rule, a new constitutional order emerged so that, upon his death, Tiberius would succeed him as

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7540-475: The Dominate . The emperor was the ultimate authority in policy- and decision-making, but in the early Principate, he was expected to be accessible and deal personally with official business and petitions. A bureaucracy formed around him only gradually. The Julio-Claudian emperors relied on an informal body of advisors that included not only senators and equestrians, but trusted slaves and freedmen. After Nero,

7685-694: The Huns of Attila , led to the decline of the Western Roman Empire . With the fall of Ravenna to the Germanic Herulians and the deposition of Romulus Augustus in 476 by Odoacer , the Western Empire finally collapsed. The Eastern Roman Empire survived for another millennium with Constantinople as its sole capital, until the city's fall in 1453. Due to the Empire's extent and endurance, its institutions and culture had

7830-552: The Italian Renaissance . Rome's architectural tradition served as the basis for Romanesque , Renaissance and Neoclassical architecture , influencing Islamic architecture . The rediscovery of classical science and technology (which formed the basis for Islamic science ) in medieval Europe contributed to the Scientific Renaissance and Scientific Revolution . Many modern legal systems, such as

7975-640: The Mediterranean and beyond. However, it was severely destabilised by civil wars and political conflicts , which culminated in the victory of Octavian over Mark Antony and Cleopatra at the Battle of Actium in 31 BC, and the subsequent conquest of the Ptolemaic Kingdom in Egypt. In 27 BC, the Roman Senate granted Octavian overarching military power ( imperium ) and

8120-718: The Napoleonic Code , descend from Roman law. Rome's republican institutions have influenced the Italian city-state republics of the medieval period, the early United States , and modern democratic republics . Rome had begun expanding shortly after the founding of the Roman Republic in the 6th century BC, though not outside the Italian Peninsula until the 3rd century BC. Thus, it was an "empire" (a great power) long before it had an emperor. The Republic

8265-472: The Nile Valley in Egypt. The empire completely circled the Mediterranean  ... referred to by its conquerors as mare nostrum —'our sea'. Trajan's successor Hadrian adopted a policy of maintaining rather than expanding the empire. Borders ( fines ) were marked, and the frontiers ( limites ) patrolled. The most heavily fortified borders were the most unstable. Hadrian's Wall , which separated

8410-523: The Oxford English Dictionary , appeared in 1595. In some parts of England during the 17th and 18th centuries, auctions by candle began to be used for the sale of goods and leaseholds. In a candle auction, the end of the auction was signaled by the expiration of a candle flame, which was intended to ensure that no one could know exactly when the auction would end and make a last-second bid. Sometimes, other unpredictable events, such as

8555-501: The Pax Romana ( lit.   ' Roman Peace ' ). Rome reached its greatest territorial extent under Trajan ( r.  98–117 AD ), but a period of increasing trouble and decline began under Commodus ( r.  180–192 ). In the 3rd century, the Empire underwent a 49-year crisis that threatened its existence due to civil war, plagues and barbarian invasions . The Gallic and Palmyrene empires broke away from

8700-596: The Servile Wars of the Republic, legislation under Augustus and his successors shows a driving concern for controlling the threat of rebellions through limiting the size of work groups, and for hunting down fugitive slaves. Over time slaves gained increased legal protection, including the right to file complaints against their masters. A bill of sale might contain a clause stipulating that the slave could not be employed for prostitution, as prostitutes in ancient Rome were often slaves. The burgeoning trade in eunuchs in

8845-429: The electromagnetic spectrum for communications (e.g., mobile phone networks). In certain jurisdictions, if a storage facility 's tenant fails to pay rent, the contents of their locker(s) may be sold at a public auction. Several television shows focus on such auctions, including Storage Wars and Auction Hunters . Auctions are used to trade commodities ; for example, fish wholesale auctions. In wool auctions, wool

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8990-438: The top-up auction is primarily used for charity events. Losing bidders must pay the difference between their bid and the next lowest bid. The winning bidder pays the amount bid for the item, without top-up. In a Chinese auction , bidders make sealed bids in advance and their probability of winning grows with the relative size of their bids. In usual auctions like the English one, bids are prices. In Dutch and Japanese auctions,

9135-605: The 2014 sale of items cherished by the Navajo and Hopi people, the items were sold at auction. The Navajo Nation was only able to buy back seven of the possibly 270 items that were being sold. Alphonse Bellier 48°52′24″N 2°20′24.3″E  /  48.87333°N 2.340083°E  / 48.87333; 2.340083 Auction The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than

9280-621: The 600-member body by appointment. A senator's son belonged to the ordo senatorius , but he had to qualify on his own merits for admission to the Senate. A senator could be removed for violating moral standards. In the time of Nero, senators were still primarily from Italy , with some from the Iberian peninsula and southern France; men from the Greek-speaking provinces of the East began to be added under Vespasian. The first senator from

9425-400: The 6th and 7th centuries with the disintegration of the complex Imperial economy. Laws pertaining to slavery were "extremely intricate". Slaves were considered property and had no legal personhood . They could be subjected to forms of corporal punishment not normally exercised on citizens, sexual exploitation , torture, and summary execution . A slave could not as a matter of law be raped;

9570-457: The Augustan programme to restore traditional morality and social order, moral legislation attempted to regulate conduct as a means of promoting " family values ". Adultery was criminalized, and defined broadly as an illicit sex act ( stuprum ) between a male citizen and a married woman, or between a married woman and any man other than her husband. That is, a double standard was in place:

9715-524: The Empire was engulfed by the Crisis of the Third Century , a period of invasions , civil strife , economic disorder , and plague . In defining historical epochs , this crisis sometimes marks the transition from Classical to Late Antiquity . Aurelian ( r.  270–275 ) stabilised the empire militarily and Diocletian reorganised and restored much of it in 285. Diocletian's reign brought

9860-463: The Mediterranean and much of Europe, Western Asia and North Africa. The Romans conquered most of this during the Republic , and it was ruled by emperors following Octavian 's assumption of effective sole rule in 27 BC. The western empire collapsed in 476 AD, but the eastern empire lasted until the fall of Constantinople in 1453. By 100 BC, Rome had expanded its rule to most of

10005-612: The Middle East. The Latin phrase imperium sine fine ("empire without end" ) expressed the ideology that neither time nor space limited the Empire. In Virgil 's Aeneid , limitless empire is said to be granted to the Romans by Jupiter . This claim of universal dominion was renewed when the Empire came under Christian rule in the 4th century. In addition to annexing large regions, the Romans directly altered their geography, for example cutting down entire forests . Roman expansion

10150-454: The Rhine and Danube. Roman jurists also show a concern for local languages such as Punic , Gaulish , and Aramaic in assuring the correct understanding of laws and oaths. In Africa , Libyco-Berber and Punic were used in inscriptions into the 2nd century. In Syria , Palmyrene soldiers used their dialect of Aramaic for inscriptions, an exception to the rule that Latin was the language of

10295-617: The Roman Republic ) while greatly extending its power beyond Italy. In 44 BC Julius Caesar was briefly perpetual dictator before being assassinated by a faction that opposed his concentration of power. This faction was driven from Rome and defeated at the Battle of Philippi in 42 BC by Mark Antony and Caesar's adopted son Octavian . Antony and Octavian divided the Roman world between them, but this did not last long. Octavian's forces defeated those of Mark Antony and Cleopatra at

10440-430: The Roman legal concept of imperium , meaning "command" (typically in a military sense). Occasionally, successful consuls or generals were given the honorary title imperator (commander); this is the origin of the word emperor , since this title was always bestowed to the early emperors. Rome suffered a long series of internal conflicts, conspiracies, and civil wars from the late second century BC (see Crisis of

10585-448: The Roman world from what was perceived as an ever-present barbarian threat, is the primary surviving monument of this effort. Latin and Greek were the main languages of the Empire, but the Empire was deliberately multilingual. Andrew Wallace-Hadrill says "The main desire of the Roman government was to make itself understood". At the start of the Empire, knowledge of Greek was useful to pass as educated nobility and knowledge of Latin

10730-437: The U.S. carry the unofficial title of "colonel". Tobacco auctioneers in the southern United States in the late 19th century had a style that mixed traditions of 17th century England with chants of slaves from Africa. The development of the internet has led to a significant rise in the use of auctions, as auctioneers can solicit bids via the internet from a wide range of buyers in a much larger variety of commodities than

10875-449: The account of his achievements ( Res Gestae ) prominently featured the geographical cataloguing of the Empire. Geography alongside meticulous written records were central concerns of Roman Imperial administration . The Empire reached its largest expanse under Trajan ( r.  98–117 ), encompassing 5 million km . The traditional population estimate of 55–60 million inhabitants accounted for between one-sixth and one-fourth of

11020-411: The actual auction, whose reserve price it determines. A sequential auction is an auction where the bidders can participate in a sequence of auctions. A Calcutta auction is a subtype of sequential auction, where the ordering in the sequence is determined by random. A simultaneous ascending auction is an opposite of a sequential auction, where the auctions are run in parallel. The silent auction

11165-614: The assets of individuals who have perhaps died intestate (those who have died without leaving a will), or in debt. In legal contexts where forced auctions occur, as when one's farm or house is sold at auction on the courthouse steps. Property seized for non-payment of property taxes , or under foreclosure , is sold in this manner. Police auctions are generally held at general auctions, although some forces use online sites including eBay, to dispose of lost and found and seized goods. Debt auctions, in which governments issue and sell debt obligations , such as bonds , to investors. The auction

11310-576: The auction method. Attractive maidens were offered in a forward auction to determine the price to be paid by a swain, while unattractive maidens required a reverse auction to determine the price to be paid to a swain. Auctions took place in Ancient Greece , other Hellenistic societies, and also in Rome . During the Roman Empire , after a military victory, Roman soldiers would often drive

11455-477: The auctioned good. A common value auction is opposite, where the valuation of the auctioned good is identical among the bidders. The range of auctions' contexts is extremely wide and one can buy almost anything, from a house to an endowment policy and everything in between. Some of the recent developments have been the use of the Internet both as a means of disseminating information about various auctions and as

11600-419: The best price among interested buyers, reverse auctions and buyer-determined auctions give buyers a chance to find the lowest-price supplier. During a reverse auction, suppliers may submit multiple offers, usually as a response to competing suppliers' offers, bidding down the price of a good or service to the lowest price they are willing to receive. A reverse price auction is not necessarily 'descending-price' —

11745-441: The bidding process before the bid price has reached the buyout price. If no bidder chooses to utilize the buyout option before the end of bidding, the highest bidder wins and pays their bid. Buyout options can be either temporary or permanent . In a temporary-buyout auction the option to buy out the auction is not available after the first bid is placed. In a permanent-buyout auction the buyout option remains available throughout

11890-461: The bids are confirmations. In a version of the Brazilian auction , bids are numbers of units being traded. Structure elements of a bid are called attributes. If a bid is one number like price, it is a single-attribute auction . If bids consists of multiple-attributes, it is a multi-attribute auction . A Yankee auction is a single-attribute multiunit auction running like a Dutch auction, where

12035-450: The bids are the portions of a total amount of identical units. The amount of auctioned items is firm in a Yankee auction unlike a Brazilian auction. The portions of the total amount, bidders can bid, are limited to lower numbers than the total amount. Therefore, only a portion of the total amount will be traded for the best price and the rest to the suboptimal prices. In an English auction, all current bids are visible to all bidders and in

12180-418: The collapse of the Empire's west. The dominance of Latin and Greek among the literate elite obscure the continuity of other spoken languages within the Empire. Latin, referred to in its spoken form as Vulgar Latin , gradually replaced Celtic and Italic languages . References to interpreters indicate the continuing use of local languages, particularly in Egypt with Coptic , and in military settings along

12325-482: The conditions of martyrdom . The three major elements of the Imperial state were the central government, the military, and the provincial government. The military established control of a territory through war, but after a city or people was brought under treaty, the mission turned to policing: protecting Roman citizens, agricultural fields, and religious sites. The Romans lacked sufficient manpower or resources to rule through force alone. Cooperation with local elites

12470-481: The deceased emperor's deification. The dominance of the emperor was based on the consolidation of powers from several republican offices. The emperor made himself the central religious authority as pontifex maximus , and centralized the right to declare war, ratify treaties, and negotiate with foreign leaders. While these functions were clearly defined during the Principate , the emperor's powers over time became less constitutional and more monarchical, culminating in

12615-501: The descent "from a kingdom of gold to one of rust and iron", a comment which has led some historians, notably Edward Gibbon , to take Commodus' reign as the beginning of the Empire's decline . In 212, during the reign of Caracalla , Roman citizenship was granted to all freeborn inhabitants of the empire. The Severan dynasty was tumultuous; an emperor's reign was ended routinely by his murder or execution and, following its collapse,

12760-472: The easternmost province, Cappadocia , was admitted under Marcus Aurelius. By the Severan dynasty (193–235), Italians made up less than half the Senate. During the 3rd century, domicile at Rome became impractical, and inscriptions attest to senators who were active in politics and munificence in their homeland ( patria ). Senators were the traditional governing class who rose through the cursus honorum ,

12905-549: The emergence of the internet, online auctions have developed, with eBay being the most typical example. For example, if someone owns a rare item, they can display the item through an online auction platform. Interested parties may place bids, with the highest bidder winning the opportunity to purchase the item. Online auctions allow more people to participate and also make traditional auction theory more complex. By increasing visibility of an item and therefore demand , auctions can make an extremely rare item more likely to sell for

13050-514: The empire's most concerted effort against the perceived threat of Christianity , the " Great Persecution ". Diocletian divided the empire into four regions, each ruled by a separate tetrarch . Confident that he fixed the disorder plaguing Rome, he abdicated along with his co-emperor, but the Tetrarchy collapsed shortly after . Order was eventually restored by Constantine the Great , who became

13195-506: The empire. This legal egalitarianism required a far-reaching revision of existing laws that distinguished between citizens and non-citizens. Freeborn Roman women were considered citizens, but did not vote, hold political office, or serve in the military. A mother's citizen status determined that of her children, as indicated by the phrase ex duobus civibus Romanis natos ("children born of two Roman citizens"). A Roman woman kept her own family name ( nomen ) for life. Children most often took

13340-449: The end of the 18th century, auctions of art works were commonly held in taverns and coffeehouses . These auctions were held daily, and auction catalogs were printed to announce available items. In some cases, these catalogs were elaborate works of art themselves, containing considerable detail about the items being auctioned. At the time, Christie's established a reputation as a leading auction house, taking advantage of London's status as

13485-631: The end of the Western Roman Empire in 476, when Romulus Augustulus was forced to abdicate to the Germanic warlord Odoacer . Odoacer ended the Western Empire by declaring Zeno sole emperor and placing himself as Zeno's nominal subordinate. In reality, Italy was ruled by Odoacer alone. The Eastern Roman Empire, called the Byzantine Empire by later historians, continued until the reign of Constantine XI Palaiologos ,

13630-399: The entire auction until the close of bidding. The buyout price can either remain the same throughout the entire auction, or vary throughout according to rules or simply as decided by the seller. The winner selection in most auctions selects the best bid. Unique bid auctions offer a special winner selection: the winner is the bidder with the lowest unique bid. The Chinese auction selects

13775-504: The exploitation of slaves. Outside Italy, slaves were on average an estimated 10 to 20% of the population, sparse in Roman Egypt but more concentrated in some Greek areas. Expanding Roman ownership of arable land and industries affected preexisting practices of slavery in the provinces. Although slavery has often been regarded as waning in the 3rd and 4th centuries, it remained an integral part of Roman society until gradually ceasing in

13920-457: The father's name, with some exceptions. Women could own property, enter contracts, and engage in business. Inscriptions throughout the Empire honour women as benefactors in funding public works, an indication they could hold considerable fortunes. The archaic manus marriage in which the woman was subject to her husband's authority was largely abandoned by the Imperial era, and a married woman retained ownership of any property she brought into

14065-640: The first emperor to convert to Christianity , and who established Constantinople as the new capital of the Eastern Empire. During the decades of the Constantinian and Valentinian dynasties, the empire was divided along an east–west axis, with dual power centres in Constantinople and Rome. Julian , who under the influence of his adviser Mardonius attempted to restore Classical Roman and Hellenistic religion , only briefly interrupted

14210-402: The following list. Auctions can differ in the number and type of participants. There are two types of participants: a buyer and a seller . A buyer pays to acquire a certain good or service, while a seller offers goods or services for money or barter exchange. There can be single or multiple buyers and single or multiple sellers in an auction. If just one seller and one buyer are participating,

14355-456: The functioning of cities that in the later Empire, as the ranks of the town councils became depleted, those who had risen to the Senate were encouraged to return to their hometowns, in an effort to sustain civic life. In the later Empire, the dignitas ("worth, esteem") that attended on senatorial or equestrian rank was refined further with titles such as vir illustris ("illustrious man"). The appellation clarissimus (Greek lamprotatos )

14500-412: The highest bidder on the day, for example, if the seller withdraws the item from the auction or extends the auction period indefinitely, although these practices may be restricted by law in some jurisdictions or under the terms of sale available from the auctioneer. A reserve auction is an auction where the item for sale may not be sold if the final bid is not high enough to satisfy the seller; that is,

14645-692: The historian Christopher Kelly described it: Then the empire stretched from Hadrian's Wall in drizzle-soaked northern England to the sun-baked banks of the Euphrates in Syria; from the great Rhine – Danube river system, which snaked across the fertile, flat lands of Europe from the Low Countries to the Black Sea , to the rich plains of the North African coast and the luxuriant gash of

14790-521: The last Roman emperor. He died in battle in 1453 against Mehmed II and his Ottoman forces during the siege of Constantinople . Mehmed II adopted the title of caesar in an attempt to claim a connection to the former Empire. His claim was soon recognized by the Patriarchate of Constantinople , but not by most European monarchs. The Roman Empire was one of the largest in history, with contiguous territories throughout Europe, North Africa, and

14935-592: The late 1st century prompted legislation that prohibited the castration of a slave against his will "for lust or gain". Roman slavery was not based on race . Generally, slaves in Italy were indigenous Italians, with a minority of foreigners (including both slaves and freedmen) estimated at 5% of the total in the capital at its peak, where their number was largest. Foreign slaves had higher mortality and lower birth rates than natives, and were sometimes even subjected to mass expulsions. The average recorded age at death for

15080-595: The major centre of the international art trade after the French Revolution . The Great Slave Auction took place in 1859 and is recorded as the second largest single sale of enslaved people in U.S. history — with 436 men, women and children being sold. During the American Civil War , goods seized by armies were sold at auction by the Colonel of the division. Thus, some of today's auctioneers in

15225-486: The marriage. Technically she remained under her father's legal authority, even though she moved into her husband's home, but when her father died she became legally emancipated. This arrangement was a factor in the degree of independence Roman women enjoyed compared to many other cultures up to the modern period: although she had to answer to her father in legal matters, she was free of his direct scrutiny in daily life, and her husband had no legal power over her. Although it

15370-416: The members of the three higher "orders", along with certain military officers. The granting of universal citizenship in 212 seems to have increased the competitive urge among the upper classes to have their superiority affirmed, particularly within the justice system. Sentencing depended on the judgment of the presiding official as to the relative "worth" ( dignitas ) of the defendant: an honestior could pay

15515-730: The military. The last reference to Gaulish was between 560 and 575. The emergent Gallo-Romance languages would then be shaped by Gaulish. Proto-Basque or Aquitanian evolved with Latin loan words to modern Basque . The Thracian language , as were several now-extinct languages in Anatolia, are attested in Imperial-era inscriptions. The Empire was remarkably multicultural, with "astonishing cohesive capacity" to create shared identity while encompassing diverse peoples. Public monuments and communal spaces open to all—such as forums , amphitheatres , racetracks and baths —helped foster

15660-528: The monopolistic French auction laws, regulated through the system of commissaires-priseurs , opened Drouot up to international competition. It is now owned by a subsidiary of BNP Paribas . Hundreds of sacred relics were sold at the Hôtel Drouot auctions. Those being sold include Native American, Eskimo and pre-Columbian artefacts. Despite the pleas of the United States embassy, urging a stop to

15805-444: The new de facto monarch. As Roman provinces were being established throughout the Mediterranean, Italy maintained a special status which made it domina provinciarum ("ruler of the provinces"), and – especially in relation to the first centuries of imperial stability – rectrix mundi ("governor of the world") and omnium terrarum parens ("parent of all lands"). The 200 years that began with Augustus's rule

15950-407: The new title of Augustus , marking his accession as the first Roman emperor . The vast Roman territories were organized into senatorial provinces, governed by proconsuls who were appointed by lot annually, and imperial provinces, which belonged to the emperor but were governed by legates . The first two centuries of the Empire saw a period of unprecedented stability and prosperity known as

16095-551: The occurrence of a price development during an auction run and its causes. Multiunit auctions sell more than one identical item at a time, rather than having separate auctions for each. This type can be further classified as either a uniform price auction or a discriminatory price auction . An example for them is spectrum auctions . A combinatorial auction is any auction for the simultaneous sale of more than one item where bidders can place bids on an "all-or-nothing" basis on "packages" rather than just individual items. That is,

16240-412: The political career track, but equestrians often possessed greater wealth and political power. Membership in the equestrian order was based on property; in Rome's early days, equites or knights had been distinguished by their ability to serve as mounted warriors, but cavalry service was a separate function in the Empire. A census valuation of 400,000 sesterces and three generations of free birth qualified

16385-507: The poor were other sources. Vernae , by contrast, were "homegrown" slaves born to female slaves within the household, estate or farm. Although they had no special legal status, an owner who mistreated or failed to care for his vernae faced social disapproval, as they were considered part of the family household and in some cases might actually be the children of free males in the family. Rome differed from Greek city-states in allowing freed slaves to become citizens; any future children of

16530-426: The previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically. Auctions are applied for trade in diverse contexts . These contexts include antiques , paintings , rare collectibles , expensive wines , commodities , livestock , radio spectrum , used cars , real estate , online advertising , vacation packages, emission trading , and many more. The word "auction"

16675-403: The process is not considered to be an auction. The forward auction is the most common type of auction — a seller offers item(s) for sale and expects the highest price. A reverse auction is a type of auction in which the roles of the buyer and the seller are reversed, with the primary objective to drive purchase prices downward. While ordinary auctions provide suppliers the opportunity to find

16820-475: The reverse Dutch auction is an ascending-price auction because forward Dutch auctions are descending. By revealing the competing bids in real-time to every participating supplier, reverse auctions promote "information transparency". This, coupled with the dynamic bidding process, improves the chances of reaching the fair market value of the item. A double auction is a combination of both forward and reverse auctions. A Walrasian auction or Walrasian tâtonnement

16965-494: The rising prices, with a subsequantial sealed bid auction, in which bidders submit sealed package bids. The auctioneer uses the final bids to compute the best value allocation and the Vickrey payments. Generalized first-price auctions and Generalized second-price auctions offer slots for multiple bidders instead of making a single deal. The bidders get the slots according to the ranking of their bids. The second-price ruling

17110-533: The sales lasting for months. One of the most significant historical auctions was in 193 AD, when the entire Roman Empire was put on the auction block by the Praetorian Guard . On 28 March 193, the Praetorian Guard first killed emperor Pertinax , then offered the empire to the highest bidder. Didius Julianus won the auction at the price of 6,250 drachmas per guard, an act that initiated

17255-407: The seller reserves the right to accept or reject the highest bid. In these cases, a set 'reserve' price known to the auctioneer, but not necessarily to the bidders, may have been set, below which the item may not be sold. If the seller announces to the bidders the reserve price, it is a public reserve price auction. In contrast, if the seller does not announce the reserve price before the sale, it

17400-472: The seller than a no-reserve auction as they are not required to accept a low bid, but this could result in a lower final price if less interest is generated in the sale. An all-pay auction is an auction in which all bidders must pay their bids regardless of whether they win. The highest bidder wins the item. All-pay auctions are primarily of academic interest, and may be used to model lobbying or bribery (bids are political contributions) or competitions such as

17545-528: The slaves of the city of Rome was seventeen and a half years (17.2 for males; 17.9 for females). During the period of republican expansionism when slavery had become pervasive, war captives were a main source of slaves. The range of ethnicities among slaves to some extent reflected that of the armies Rome defeated in war, and the conquest of Greece brought a number of highly skilled and educated slaves. Slaves were also traded in markets and sometimes sold by pirates . Infant abandonment and self-enslavement among

17690-646: The state and a series of short-lived emperors led the Empire, which was later reunified under Aurelian ( r.  270–275 ). The civil wars ended with the victory of Diocletian ( r.  284–305 ), who set up two different imperial courts in the Greek East and Latin West . Constantine the Great ( r.  306–337 ), the first Christian emperor , moved the imperial seat from Rome to Byzantium in 330, and renamed it Constantinople . The Migration Period , involving large invasions by Germanic peoples and by

17835-529: The strife-torn Year of the Four Emperors , from which Vespasian emerged as the victor. Vespasian became the founder of the brief Flavian dynasty , followed by the Nerva–Antonine dynasty which produced the " Five Good Emperors ": Nerva , Trajan , Hadrian , Antoninus Pius , and Marcus Aurelius . In the view of contemporary Greek historian Cassius Dio , the accession of Commodus in 180 marked

17980-461: The succession of Christian emperors. Theodosius I , the last emperor to rule over both East and West, died in 395 after making Christianity the state religion . The Western Roman Empire began to disintegrate in the early 5th century. The Romans fought off all invaders, most famously Attila , but the empire had assimilated so many Germanic peoples of dubious loyalty to Rome that the empire started to dismember itself. Most chronologies place

18125-562: The time of Nero , however, it was not unusual to find a former slave who was richer than a freeborn citizen, or an equestrian who exercised greater power than a senator. The blurring of the Republic's more rigid hierarchies led to increased social mobility , both upward and downward, to a greater extent than all other well-documented ancient societies. Women, freedmen, and slaves had opportunities to profit and exercise influence in ways previously less available to them. Social life, particularly for those whose personal resources were limited,

18270-523: The twenty-first century as house prices sky-rocketed . The rapidly rising housing market saw many homes, especially in Victoria and New South Wales, selling for significantly more than both the vendors' reserve price and the advertised price range. Subsequently, the auction systems' lack of transparency about the value of the property was brought into question, with estate agents and their vendor clients being accused of "under-quoting". Significant attention

18415-469: The two biggest auction houses were $ 5 billion ( Christie's ) and $ 4 billion ( Sotheby's ). Auctions come in a variety of types and categories, which are sometimes not mutually exclusive. Typification of auctions is considered to be a part of Auction theory . The economists Paul Milgrom and Robert B. Wilson were awarded the 2020 Nobel Prize for the introduction of new auction types (or formats). Auction types share features, which can be summarized into

18560-430: The two largest cities, Melbourne and Sydney . This was largely due to the fact that in a private sale the vendor has disclosed the price that they want, and potential purchasers would attempt to low-ball the price, whereas in an auction purchasers do not know what the vendor wants, and thus need to keep lifting the price until the reserve price is reached. The method has been the subject of increased controversy during

18705-444: The winner. The top two bidders must pay their full final bid amounts, and only the highest wins the auction. The intent is to make the high bidders bid above their upper limits. In the final rounds of bidding, when the current losing party has hit their maximum bid, they are encouraged to bid over their maximum (seen as a small loss) to avoid losing their maximum bid with no return (a very large loss). Another variation of all-pay auction,

18850-431: The winners will be Bidders B & D while Bidder A misses out because the combined bids of Bidders B & D is higher ($ 60) than for Bidders A and C ($ 55). Deferred-acceptance auction is a special case of a combinatorial auction. Another special case of a combinatorial auction is the combinatorial clock auction (CCA), which combines a clock auction, during which bidders may provide their confirmations in response to

18995-849: The world's second-largest auction house, was founded in London on 11 March 1744, when Samuel Baker presided over the disposal of "several hundred scarce and valuable" books from the library of an acquaintance. Christie's , now the world's largest auction house, was founded by James Christie in 1766 in London and published its first auction catalog that year, although newspaper advertisements of Christie's sales dating from 1759 have been found. Other early auction houses that are still in operation include Göteborgs Auktionsverk (1681), Dorotheum (1707), Uppsala auktionskammare (1731), Mallams (1788), Bonhams (1793), Phillips de Pury & Company (1796), Freeman's (1805) and Lyon & Turnbull (1826). By

19140-411: The world's total population and made it the most populous unified political entity in the West until the mid-19th century. Recent demographic studies have argued for a population peak from 70 million to more than 100 million . Each of the three largest cities in the Empire – Rome, Alexandria , and Antioch – was almost twice the size of any European city at the beginning of the 17th century. As

19285-442: Was a point of pride to be a "one-man woman" ( univira ) who had married only once, there was little stigma attached to divorce , nor to speedy remarriage after being widowed or divorced. Girls had equal inheritance rights with boys if their father died without leaving a will. A mother's right to own and dispose of property, including setting the terms of her will, gave her enormous influence over her sons into adulthood. As part of

19430-475: Was further defined by their citizenship. Most citizens held limited rights (such as the ius Latinum , "Latin right"), but were entitled to legal protections and privileges not enjoyed by non-citizens. Free people not considered citizens, but living within the Roman world, were peregrini , non-Romans. In 212, the Constitutio Antoniniana extended citizenship to all freeborn inhabitants of

19575-466: Was further fostered by a proliferation of voluntary associations and confraternities ( collegia and sodalitates ): professional and trade guilds, veterans' groups, religious sodalities, drinking and dining clubs, performing troupes, and burial societies . According to the jurist Gaius , the essential distinction in the Roman " law of persons " was that all humans were either free ( liberi ) or slaves ( servi ). The legal status of free persons

19720-547: Was given to the matter by the Australian media, with the government in Victoria eventually bowing to pressure and implementing changes to legislation in an effort to increase transparency. In the UK, historically, auction houses were perceived to sell properties which may have been repossessed —  where a home owner fails to make regular mortgage payments —  or were probate sales (  i.e. ,  

19865-556: Was inaugurated on 1 June 1852. During World War II and the German occupation of France, a large number of artworks from collections that had been owned by Jews passed through Drouot, which was as a result included on the Art Looting Investigation Unit list of Red Flag names. From 1976 to 1980, while its present building was being constructed, sales took place in the former Gare d'Orsay . In 2000, reform of

20010-495: Was mostly accomplished under the Republic , though parts of northern Europe were conquered in the 1st century, when Roman control in Europe, Africa, and Asia was strengthened. Under Augustus , a "global map of the known world" was displayed for the first time in public at Rome, coinciding with the creation of the most comprehensive political geography that survives from antiquity, the Geography of Strabo . When Augustus died,

20155-671: Was necessary to maintain order, collect information, and extract revenue. The Romans often exploited internal political divisions. Communities with demonstrated loyalty to Rome retained their own laws, could collect their own taxes locally, and in exceptional cases were exempt from Roman taxation. Legal privileges and relative independence incentivized compliance. Roman government was thus limited , but efficient in its use of available resources. The Imperial cult of ancient Rome identified emperors and some members of their families with divinely sanctioned authority ( auctoritas ). The rite of apotheosis (also called consecratio ) signified

20300-416: Was never a legal requirement for Latin in the Empire, but it represented a certain status. High standards of Latin, Latinitas , started with the advent of Latin literature. Due to the flexible language policy of the Empire, a natural competition of language emerged that spurred Latinitas , to defend Latin against the stronger cultural influence of Greek. Over time Latin usage was used to project power and

20445-445: Was not a nation-state in the modern sense, but a network of self-ruled towns (with varying degrees of independence from the Senate ) and provinces administered by military commanders. It was governed by annually elected magistrates ( Roman consuls above all) in conjunction with the Senate. The 1st century BC was a time of political and military upheaval, which ultimately led to rule by emperors. The consuls' military power rested in

20590-426: Was not itself an elected office in ancient Rome; an individual gained admission to the Senate after he had been elected to and served at least one term as an executive magistrate . A senator also had to meet a minimum property requirement of 1 million sestertii . Not all men who qualified for the ordo senatorius chose to take a Senate seat, which required legal domicile at Rome. Emperors often filled vacancies in

20735-524: Was previously practical. In the 1990s, the multi-attribute auction was invented to negotiate extensive conditions of construction and electricity contracts via auction. Also during this time, OnSale.com developed the Yankee auction as its trademark. In the early 2000s, the Brazilian auction was invented as a new type of auction to trade gas through electronic auctions for Linde plc in Brazil . With

20880-447: Was used to designate the dignitas of certain senators and their immediate family, including women. "Grades" of equestrian status proliferated. As the republican principle of citizens' equality under the law faded, the symbolic and social privileges of the upper classes led to an informal division of Roman society into those who had acquired greater honours ( honestiores ) and humbler folk ( humiliores ). In general, honestiores were

21025-476: Was useful for a career in the military, government, or law. Bilingual inscriptions indicate the everyday interpenetration of the two languages. Latin and Greek's mutual linguistic and cultural influence is a complex topic. Latin words incorporated into Greek were very common by the early imperial era, especially for military, administration, and trade and commerce matters. Greek grammar, literature, poetry and philosophy shaped Latin language and culture. There

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