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GB/T 45914-2025Auction terminology (English PDF)

拍卖术语

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Issued by

SAMR; SAC

Level / Type

National · Recommended

Issue date

August 1, 2025

Implementation date

August 1, 2025

Scope

GB/T 45914-2025 is the English-translated version of 拍卖术语.

GB/T 45914-2025 is the Chinese national standard covering the words used in an auction — the basic concepts of auction, bidding, joint bidding, the bidding paddle and the deposit, the auction methods and the trading rules, the participating parties, the documents and the stages of the process, and the specialist vocabulary of art, real estate, motor vehicle and agricultural produce sales, each of which uses the common terms in its own way. First edition, under the Ministry of Commerce. In force from 1 August 2025. Issued on 1 August 2025, it has been in force since 1 August 2025.

Document preview — GB/T 45914-2025

National Standard of the People's Republic of China

ICS: 03.080.99
Classification: A 10

Issued by: State Administration for Market Regulation; Standardization Administration of the PRC

PrefaceIII
1 Scope1
2 Normative references1
3 Basic Terminology1
3.1 Basic Concepts1
3.2 Auction Method3
3.3 Trading Rules4
3.4 Participating entities5
3.5 Auction Documents6
3.6 Auction Process7
4 Professional Terminology9
4.1 Art Auction Terminology9
4.2 Real Estate Auction Terminology10
4.3 Motor Vehicle Auction Terminology11
4.4 Agricultural Products Auction Terminology12
4.5 Other auction terms14
Reference16
Index17

Foreword

This document is in accordance with the provisions of GB/T 1.1-2020 "Guidelines for standardization work Part 1: Structure and drafting rules for standardization documents" Drafting.

Please note that some of the contents of this document may involve patents. The issuing organization of this document does not assume the responsibility for identifying patents.

This document is issued by the Ministry of Commerce of the People's Republic of China.

This document is under the jurisdiction of the National Auction Standardization Technical Committee (SAC/TC366).

This document was drafted by: China Auction Industry Association, Beijing Jiahe International Auction Co., Ltd., China Guardian International Auction Co., Ltd., Shanghai Guolianpai Technology Co., Ltd., Beijing Shengshijia International Auction Co., Ltd., Kunming International Flower Auction and Trading Center Co., Ltd., Guangdong Auction Industry Association, Zhejiang Auction Industry Association, and Shanghai Auction Industry Association.

The main drafters of this document are: Liu Xulin, Zhang Yongyue, Liu Ying, Han Tao, Wang Yufeng, Zhang Li, Zheng Xiaoxing, Zhang Yi, Cui Haile, Jin Shaojun, Zhao Jing, Yu Jinsheng, Liu Cong, Wang Xueying, Wang Bo, He Hui, Li Weidong, Wang Zhuo, and Wang Binyan. Auction terminology

1 Scope

This document defines common terms and definitions used in auction activities.

This document applies to all types of auction activities.

2 Normative references

This document has no normative references.

3 Basic Terminology

3.1 Basic Concepts

3.1.1 Auction

A method of buying and selling in which specific items or property rights are transferred to the highest bidder in the form of open bidding.

3.1.2 Auction activity

The process of conducting transactions through open bidding and the highest bidder wins.

3.1.3 auction

Bidding and buying activities organized according to the announced time, place, and method.

3.1.4 Bidding

Bidding Bidding Competitive bidding behavior.

3.1.5

The act of a bidder entrusting an agent to participate in the auction and exercise the bidding rights on his behalf.

3.1.6 joint bidding

The act of two or more natural persons, legal persons or other organizations participating in the bidding as the same bidder.

3.1.7 Bidding Paddle

In an auction, a numbered sign is used to identify the bidder's eligibility or identity.

Note. In online auctions, it is generally represented by a group of numbers or a combination of numbers and letters.

3.1.8 Bidding deposit

The performance guarantee payment paid by the bidder before the auction.

......
This preview omits tables, figures, formulas and parts of the technical clauses. The complete document — 26 pages — is available in the English PDF.

Editions of GB/T 45914

Edition	Title	Revision	Status
GB/T 45914-2025	Auction terminology	current edition	Current

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