An Etymological Dictionary of the German Language/Gant
Gant, f., ‘auction, bankruptcy,’ an UpG. word (unknown to the Suab. dial.), from MidHG. gant, f., ‘sale to the highest bidders, auction.’ Not from Fr. gant, ‘glove.’ It is not true that “affixing a glove (in a symbolical way) has given rise to the terms Gant and Vergantung, denoting a distress on real property.” The term is more-probably derived from Prov. l'encant, ModFr. l'encan, ‘auction’ (Ital. incanto, from Lat. in quantum), whence E. cant, ‘auction.’