Auction houses are businesses that facilitate the sale of goods through a bidding process. They organize events where items, such as art, antiques, and collectibles, are presented to potential buyers. Participants place bids, and the highest bidder wins the item. Auction houses often provide expertise in valuing items and marketing them to attract buyers. Some well-known auction houses include Sotheby's and Christie's. These establishments have a long history and are recognized for handling high-value items. They may also offer online auctions, allowing a broader audience to participate in the bidding process from anywhere in the world.