News and updates

Did you know? 
Tenders have been used worldwide as far back as the Babylonian empire. The earliest documentation is from c. 500 BCE, when the Greek historian Herodotus reported Babylonian auctions  for the sale and purchase of marriage rights. Even entire empires were sold by auction, in 193 CE, the Praetorian Guard, which protected Roman emperors , and the military force present in Rome itself, auctioned the throne to the man who offered them the highest salary. To the praetorians regret, despite the successful auction, one of the bidders gained the support of legions on the border which were not part of the Praetorian Guard, which captured Rome and the throne two months later. 
The English auction  was one kind of highly effective historical auction, resulted in its use and spread to the contemporary era. In this kind of auction, each bidder can dynamically improve its bid, compared with the other bids. Its roots may be found in Babylonian auctions, but it is named is derived from its common use in 17th century England. Artworks, ships, land rights, and other things were sold by English tenders or their variations, in order to shorten the tender execution time. Even the historic archeological site of Stonehenge was sold by an English tender in the early 20th century.