October Mag 2025 Real Estate Investor October Mag 2025 | Page 62

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The Power o Part 1 of Five

By Adrian Saville and Ian McLeod

Auctions trace back at least to 500 BCE, with Herodotus doc markets, the earliest recorded use of competitive bidding a mechanism.

From Leonardo’ s Salvator Mundi fetching $ 450 million to B masterpiece, auctions have sold everything under the sun. reshape markets, reveal true prices, and inject speed, trans that ripple far beyond the bidding floor.

This five-part series is an exploration to build understandin and function across industries and economies. In this first why auctions matter and how their often-overlooked mech small 32, across REI MAGAZINE industries OCTOBER 2025, countries, and through time.