Definition of Auction
Auc´tion
n.
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.
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
.
- P. Cyc.
v. t.
1.
To
sell
by
auction
.
Related Words
auction
off
,
auction
sale
,
auctioneer
,
commerce
,
commercialism
,
mercantilism
,
sell
,
vendue
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