What does "auction" mean?
A public event where goods or property are sold to the highest bidder.
noun, verb ·Uncommon ·College level
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"Auctions come in a wide variety. In a “Dutch auction”, often used to sell flowers and fruit, prices start high and gradually drop until a bidder is willing to pay up. A “Japanese auction” is a bit like poker: bids rise with each round and anyone who wants to win must bid every time. Vendors using auctions rid themselves of the headache of choosing prices and instead just pick the rules bidders must follow."
"We will be willing to make a deal with you after the auction."
A public event where goods or property are sold to the highest bidder.
Common synonyms include: auction bridge, auction event, auction off, auction off, auction sale, auctioneer.
We will be willing to make a deal with you after the auction.
Pronounced /ˈɔkʃən/.
From Latin auctiō (“an increase, auction”), from augere (“to increase”).