Auction houses are where wealthy collectors and art dealers gather and compete for the best of the art world. These actors tend to change the atmosphere of this world with their performance; Auctioneers are also interested in seeing the boom of the market with successful sales. Although, watching these events, the most important of which are the evening auctions, creates a certain enthusiasm in some of the viewer, it may be confusing to others. For this purpose, Artchart team decided to provide readers with a glossary of commonly used terms in auctions, in order to improve the understanding of the mechanism of auctions and boost the viewers' enjoyment.