An auction house is a sophisticated commercial marketplace specializing in the sale of artworks through competitive bidding processes, serving as crucial intermediaries between sellers and potential buyers in the art market.

These institutions, such as Christie's, Sotheby's, and Phillips, conduct both physical and online auctions, offering a transparent platform for selling high-value artworks, rare collectibles, and significant cultural artifacts. 

Auction houses provide comprehensive services including artwork valuation, marketing, authentication, and global reach for art transactions.