Definition of "auctionlike" [auctionlike]

• Resembling or characteristic of an auction. (adjective)

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• "After a year of heedless, auctionlike frenzy that's broken all sales records – Manhattan property values have shot up 17 percent in the last six months – co-op boards now wield their unchecked power with freewheeling brutality, and sellers are convinced they'd better ask 50 percent more than their neighbors got, or they're going to look foolish in three months."