auctions

Noun

auction (plural auctions)

1. 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...2014 July 12, “Competition, hammered”, in The Economist, volume 412, number 8895

   Synonyms:

   roup sale

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

See all 3 meanings of auction