---
title: Auctioning an asset
description: When a company is unable to repay its debts, its assets may be sold to raise the money required to settle those debts. One of the ways of selling these assets is to auction them. In this instance a mi
---

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# Auctioning an asset

When a company is unable to repay its debts, its assets may be sold to raise the money required to settle those debts. One of the ways of selling these assets is to auction them. In this instance a minimum price is attached to the asset and the auction is advertised to the general public. Thereafter the asset will be sold to the highest bidder providing that this amount at least equals, or is greater than, the set minimum value.

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