# auction

Pronunciation: say "AWK-shuhn" US/AUS /ˈɔkʃən/, UK /ˈɔːkʃən/

## Noun

1. A public event where goods or property are sold to whoever offers the highest bid.
   - Simple: A public sale where things go to the person who offers the most money.
   - _The estate's furniture went under the hammer at a crowded auction downtown._
   - _Online auctions let bidders compete from anywhere in the world._
3. In bridge, the opening phase of a deal in which players bid to determine the final contract.
   - Simple: In the card game bridge, the first part of a hand where players bid to decide the final contract.
   - _A competitive auction pushed the final contract to six spades._
   - _Their auction revealed a strong fit in hearts before they settled on game._

## Verb

2. To sell goods or property through an auction to the highest bidder.
   - Simple: To sell something at a public sale to the person who offers the most money.
   - _The bank will auction the foreclosed properties next Tuesday._
   - _Officials auctioned the seized vehicles to recover unpaid taxes._

## Origin

From Latin auctio ("an increase, auction"), which comes from the Latin verb augere ("to increase").

Source: DictionaryAI, https://dictionaryai.com/define/auction (written from Wiktionary data, CC BY-SA 4.0: https://creativecommons.org/licenses/by-sa/4.0/).