Veiling

An auction in the legal sense is a public sale procedure in which multiple parties may bid on a chattel or real property with the objective of realizing the highest price. Such a procedure may take place either voluntarily or by compulsion, the compulsory variant often being by way of execution following a judgment or bankruptcy.

In the Netherlands, auctions are governed by the Civil Code and the Code of Civil Procedure. The procedure ensures transparency and equality among bidders, which is essential to protect the interests of creditors and owners.

In practice, an auction is frequently organized by a notary or a specialized auction house, with bids submitted either in person or online and the award being binding.