English

Definition of auction noun from the Oxford Advanced Learner's Dictionary

 

auction

 noun
noun
BrE BrE//ˈɔːkʃn//
 
, BrE//ˈɒkʃn//
 
; NAmE NAmE//ˈɔːkʃn//
 
The art world
 
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[countable, uncountable] a public event at which things are sold to the person who offers the most money for them an auction of paintings The house is up for auction (= will be sold at an auction). A classic Rolls-Royce fetched (= was sold for) £25 000 at auction. an Internet auction site See related entries: The art world Word Origin late 16th cent.: from Latin auctio(n-) ‘increase, auction’, from the verb augere ‘to increase’.Extra examples I try to buy furniture at auctions because it is cheaper that way. In a reverse auction, the price is driven steadily down. My father will be conducting the auction tomorrow. The estate is holding an auction to raise money. The goods were put up for sale by auction. The horse will be put up for public auction. The house was sold at auction for half a million pounds. The paintings will come up for auction next month. a bargain that she had picked up at auction a jumble sale by auction
See the Oxford Advanced American Dictionary entry: auction