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Highest Bidder facts

While investigating facts about Highest Bidder Book and Highest Bidder Series, I found out little known, but curios details like:

Roman Emperor Pertinax who was murdered by his imperial bodyguard so that they could auction off the empire to the highest bidder

how to offer item to second highest bidder?

In 193 AD, Rome's elite Praetorian Guard murdered the sitting Emperor and then auctioned off the role to the highest bidder.

What happens if the highest bidder doesn't pay?

In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what if the highest bidder doesn't pay. Here are 16 of the best facts about Highest Bidder Meaning and Highest Bidder Reserve Not Met I managed to collect.

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  1. A Vickrey auction is a sealed bid auction where the high bidder wins the item but pays the price of the second highest bid.

  2. When Rome entered a financial crisis in AD 39, Caligula resorted to extreme measures to save the economy, including: seizing estates from Patricians, taxing weddings, and selling popular gladiators to the highest bidders.

  3. The Roman Empire fell in a large part due to the corruption of the Praetorian Guard who initiated the practice of selling the throne to the highest bidder (often killing the emperor themselves)

  4. After the Praetorian Guard assasinated Caesar Pertinax in 193 AD, they auctioned off the office of Roman Emperor to the highest bidder

  5. After the assassination of Emperor Pertinax, the command of the whole of the Roman Empire was auctioned to the highest bidder.

  6. Until post-WW2, young Japanese girls were sold into the geisha life by their families and were often subject to the ritual of 'mizu-age,' whereby their virginity was sold to the highest bidder.

  7. In 2014, DNA pioneer James Watson became the first living scientist to auction his Nobel Prize medal to the highest bidder, who paid $4.76 million anonymously. Watson said his decision to sell his medal was for redemption

  8. The Plum Island, Hannibal Lecter's proffered vacation getaway and former biological warfare research facility, is now up for auction to the highest bidder.

  9. There is a Dead Letter Office where all lost and undeliverable mail goes. It is opened at the office to try identifying the sender/receiver. If neither can be found, it is auctioned off to the highest bidder.

  10. The word freelance came from he 18th century when a "free lance" or mercenary could be hired by the highest bidder.

highest bidder facts
What to do if highest bidder doesn't pay?

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"freelancer" was a term coined to describe a jousting Knight with no noble affiliation who would fight for the highest bidder

Balto was a real sled dog in Alaska who led his team through a treacherous run to deliver life saving medicine, but ultimately ended up "sold to the highest bidder and [the dogs] ended up mistreated and chained in a small area in a novelty museum and freak show in Los Angeles" - source

States will auction off all their confiscated liquor to the highest bidder. - source

EBay auctions are not the straightforward "English auctions" where winner pays the highest bid, but "Vickrey auctions", where you only pay what would be required to win against the second highest bidder.

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