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auction

[ˈɔːkʃən]

auction Definition

a public sale in which goods or property are sold to the highest bidder.

Using auction: Examples

Take a moment to familiarize yourself with how "auction" can be used in various situations through the following examples!

  • Example

    The painting was sold at an auction for millions of dollars.

  • Example

    They held an auction to sell off the old furniture.

  • Example

    The house was put up for auction by the bank.

auction Synonyms and Antonyms

Synonyms for auction

Phrases with auction

  • a platform on which slaves were sold at auction in the past

    Example

    The auction block was a symbol of the inhumanity of slavery.

  • a company that specializes in holding auctions

    Example

    Christie's and Sotheby's are two of the most famous auction houses in the world.

  • an auction in which bids are written down and kept secret until the end of the auction

    Example

    The school held a silent auction to raise money for new computers.

Origins of auction

from Latin 'auctio', meaning 'an increase'

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Summary: auction in Brief

An 'auction' [ˈɔːkʃən] is a public sale in which goods or property are sold to the highest bidder. It is often used to sell valuable items such as art, antiques, and real estate. Phrases like 'auction block' and 'auction house' refer to specific aspects of the auction process, while 'silent auction' is a type of auction where bids are kept secret until the end. 'Auction' is synonymous with 'sale' and 'sell-off.'

How do native speakers use this expression?