Private sale

Private sale – in the area of Commercial Law the term refers to any sale, performed directly between the seller and the buyer, usually confidentially and without participation of intermediaries, agents or other parties. For example, the sale of a used car between neighbors. The opposite is the public sale in the form of an auction, which represents a sale initiated by enforcement agent (who acts as auctioneer) and opened to the general public, with participation of many candidates to buy the offered item for sale. The buyer who places the higher bid will achieve the ownership.

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