At the fall of the hammer: Is the economy bust? Why so many auctions?

Over 22 auction companies have invited bidders to participate in public sales across 20 counties

At the call of the highest bidder and fall  of the hammer, your prized possession will change hands. That is how 29-year-old Mary and her husband Patrick, 36 (not their real names) lost their family saloon vehicle which they had they purchased with a loan.

It is even worse when auctioneers strike in January, a month commonly associated with dry bank accounts following excessive spending in the December festivities.