auction

Meanings

1. 1
   verb

   to sell something to the highest bidder

   After falling on hard times, the art collector auctioned many expensive paintings.

2. 2
   noun

   A public event where goods or property are sold to the highest bidder.

   Auctions come in a wide variety. In a “Dutch auction”, often used to sell flowers and fruit, prices start high and gradually drop until a bidder is willing to pay up. A “Japanese auction” is a bit like poker: bids rise with each round and anyone who wants to win must bid every time. Vendors using auctions rid themselves of the headache of choosing prices and instead just pick the rules bidders must follow.

3. 3
   noun

   the public sale of something to the highest bidder

4. 4
   noun

   a variety of bridge in which tricks made in excess of the contract are scored toward game

5. 5
   noun

   The first stage of a deal, in which players bid to determine the final contract.

6. 6
   verb

   To sell at an auction.

Etymology

From Latin auctiō (“an increase, auction”), from augere (“to increase”).