What does the term "goods" refer to in the context of auctions?

In the context of auctions, the term "goods" broadly encompasses both tangible personal property and real estate. This definition aligns with the legal and commercial understanding of goods in the auction industry. Tangible personal property refers to physical items that can be moved, such as cars, furniture, and collectibles, while real estate pertains to land and anything permanently attached to it, like buildings or homes.

Recognizing this distinction is crucial for auctioneers and participants, as it clarifies the diverse types of items that can be auctioned. Auctions are platforms for the sale of a wide range of assets, not limited to only one category, such as real estate or personal items. By understanding that "goods" includes both categories, participants can engage with the auction process in a more informed manner.

The other choices do not accurately reflect the comprehensive nature of the term "goods." For instance, limiting it to only real estate excludes a large portion of auctioned items, while focusing solely on services or online auctions diminishes the broader scope of what goods can entail in the auction context.