This paper provides an academic analysis of Law No. 9874, dated 14.2.2008 “On Public Auction,” as amended—a key component of public asset management reform in Albania. Through a historical, institutional, and critical perspective, it highlights the law’s primary objectives: increasing transparency, ensuring fair competition, and improving public revenue. The study focuses on the law’s practical implementation by public institutions such as municipalities, ministries, and the Agency for Property Treatment, while identifying the main challenges to its effective functioning. Particular attention is given to the limited use of technology and the absence of robust oversight mechanisms. The paper concludes with concrete recommendations for revising and modernizing the law in alignment with contemporary standards of public administration.