auction /ökˈshən/

1. A public sale at which goods are sold to the highest bidder
2. A method of selling goods or property by inviting bids
3. Auction bridge

To sell by auction (also with off)

aucˈtionary adjective

auctioneerˈ noun

A person who sells or is licensed to sell by public auction

To sell by auction (also with off)

auction bridge noun

An early form of the game of bridge, in which all tricks won counted towards winning a game

auction by reserve

An auction in which the auctioneer may not withdraw the lot once the first bid is made, and the lot is sold to the highest bidder

Dutch auction

1. A kind of auction at which the salesperson starts at a high price, and comes down until a bid is made
2. Any of several other unconventional or informal types of auction

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