Definition of "auction" []

• A public sale in which property or items of merchandise are sold to the highest bidder. (noun)
• Games The bidding in bridge. (noun)
• Games Auction bridge. (noun)
• To sell at or by an auction: auctioned off the remaining inventory. (verb-transitive)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "At the prices asked, designer chick needs to hire a decent model, eliminate the term auction from the listings, & get a clue: at nearly a thousand bucks for a no exchange/no return item, she clearly is whimbsicly deluded."
• "A second pair of facilities, the term auction facility for depository institutions and tern securities lending facility for primary dealers makes available predetermined aggregate amounts of longer term funding on pre-announced dates with the interest rate and the distribution of the awards across institutions being determined by competitive auction."
• "Those will now be available for 84 days in addition to the 28-day loans under the term auction facility."