Auctioned. Shanghao Renzhen Factory was auctioned in June 20021year, so it was auctioned in June 20021year. Auction is a spot trading method in which the auction house specializing in auction accepts the entrustment of the owner, shows the goods to be auctioned to the buyer at a specified time and place in accordance with certain articles of association and rules, bids openly, and finally the auctioneer sells the goods to the buyer with the highest bid.