Definition of “auction” - English Dictionary

“auction” in British English

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auctionnoun [ C or U ]

uk /ˈɔːk.ʃən/ us /ˈɑːk.ʃən/

C1 a usually public sale of goods or property, where people make higher and higher bids (= offers of money) for each thing, until the thing is sold to the person who will pay most:

a furniture auction
They're holding an auction of jewellery on Thursday.
The painting will be sold at auction next week.
The house and its contents are being put up for auction.

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auctionverb [ T ]

uk /ˈɔːk.ʃən/ us /ˈɑːk.ʃən/

(Definition of “auction” from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)

“auction” in American English

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auctionnoun [ C/U ]

us /ˈɔk·ʃən/

a usually public sale of goods or property, where people make higher and higher bids (= offers of money) for each item, until there are no higher bids and it is sold for the most money offered:

[ C ] an auction of early American furniture
[ U ] bulls sold at auction
auction
verb [ T ] us /ˈɔk·ʃən/

The artwork is being auctioned to benefit UNICEF.

(Definition of “auction” from the Cambridge Academic Content Dictionary © Cambridge University Press)

“auction” in Business English

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auctionnoun [ C or U ]

uk /ˈɔːkʃən/ us COMMERCE, E-COMMERCE

a public sale in which goods or property are sold to the person who offers the most money:

sell sth at auction The painting was sold at auction for €12 million.
hold an auction We held a charity auction in aid of the local hospital.
be up/come up/go up/be put up for auction One of the prints recently came up for auction in the United States.
an internet/online/public auction You can bid for it in an online auction.

auctionverb [ T ]

uk /ˈɔːkʃən/ us also auction off COMMERCE, E-COMMERCE

to sell something in a public auction:

The stamps will be auctioned tomorrow.
The family is auctioning off its art collection.

(Definition of “auction” from the Cambridge Business English Dictionary © Cambridge University Press)