Bid (verb/noun), an offer of money for something at an auction, Bidder, a person who makes a bid, Auctioneer, the person who runs the auction, Lot, an item or group of items up for auction, Reserve price, the minimum price a seller will accept for an item, Hammer price, the final price at the end of bidding, once the auctioneer "hits the hammer", Winning bid, the highest bid that wins the auction, Buyer's premium, an additional fee added to the winning bid.

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