The auction - also known as a roup in Scotland and northern England -  first appeared in the Oxford English Dictionary  as follows: "1595 Warner Plautus' Menaech. v. The auction of Menaechmus…when will be sold Slaves, household goods, etc." However, the records of the London courts of 1795 contain a reference to a Charter of Henry VII (confirmed by Charles I) that mentions the auction,  suggesting its existence as early as the late 15th century. 

The popularity of auction sales increased around the time William III arrived from the Netherlands in 1688. Ten years later, an Act of William III, titled "Act for Settling the Trade to the East Indies," stipulated that goods imported from the East Indies were to be sold only by Inch of Candle, a curious ascending auction method in which an inch of candle would be set up, and whoever made the final bid before the flame went out became the purchaser. Ships were also sold using this format, which was alternately known as Sale by the Candle, or the English method. Although the candle auction was a popular auction type in the latter part of the 17th century, the result was often time-consuming because such auctions inevitably led to lively debates over who had made the final bid. 

During this period, auctions were generally longer and dealt with fewer lots per sale than the live auctions of today, and they took place in a variety of settings, from offices and open-air markets to the homes of the deceased or bankrupt. There was change in the air, too, as people experimented with auction methods, including the Dutch auction and combinations of various auction formats. 

More importantly, the late 17th and early 18th century marked the auction's transition from a small event for only a few people to larger gatherings. Auctions were now promoted in the periodicals of the day and staged in rented coffeehouses or inns. Ultimately, auctioneers began to take up their own permanent addresses. 

One of the innovators during this era was the stylish Christopher Cock, the first major auctioneer. By 1735, he had established an auctioneering business in London's Covent Garden, selling the property of deceased and bankrupt individuals, including personal effects and real estate. Cock was one of the first auctioneers not only to advertise extensively, but also to court the nobility as patrons, a trend which would prove beneficial in establishing this as a high-class method of buying and selling goods.