1. A public sale of property to the highest bidder, esp. by a person licensed and authorized for the purpose; a vendue.
2. The things sold by auction or put up to auction.
Ask you why Phryne the whole auction buys ? --Pope.
Note: ☞ In the United States, the more prevalent expression has been “sales at auction,” that is, by an increase of bids (Lat. auctione). This latter form is preferable.
Dutch auction, the public offer of property at a price beyond its value, then gradually lowering the price, till some one accepts it as purchaser.
Auc·tion, v. t. To sell by auction.
n 1: a variety of bridge in which tricks made in excess of the
contract are scored toward game; now generally
superseded by contract bridge [syn: auction bridge]
2: the public sale of something to the highest bidder [syn: auction
v : sell at an auction [syn: auction off, auctioneer]