Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

  

English definition of “auction ring”

auction ring

noun [C]     (also bidders' ring) COMMERCE
a group of buyers at an auction (= public sale ) who make an illegal agreement not to compete against one another to buy things, in order to keep the price low . They then sell what they have bought at a higher price and share the profits .
(Definition of auction ring noun from the Cambridge Business English Dictionary © Cambridge University Press)
Focus on the pronunciation of auction ring

Word of the Day

scramble

to mix eggs with a little milk and mix again as they are being fried

Word of the Day

Blog

Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More