Whats the reasoning for this?

[Shannon X.]

I went to go pay taxes today and while I was there I looked at the bulletin board for Auctions on some houses. While I was there, their was one house for auction but NO ONE showed up too bid, only two people on-site were the judge and representative of the house. While reading the paper, it showed the judgment was 240,000.

Now, this may seem silly but how come no one was at the bidding? If only one person was there to bid, wouldn't they be able to get the house at the starting bid...? or are all these shows getting too my head and their is MUCH more then just getting the high bid...?

What does it mean "The judgement of the house is ###,###"

Is this what the bid will start at?