auction noun definition in The art world topic from the Oxford Advanced Learner's Dictionary

auction

 noun: The art world topic
[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