B2noun2K

Auction

UK /["/ˈɔːkʃn//ˈɒkʃn/"]/US /["/ˈɔːkʃn/"]/

Definition

a public sale in which things are sold to the person who offers the most money for them

In simple words: A public sale where items are sold to the highest bidder.

Examples

  • an auction of paintings
  • A classic Rolls-Royce fetched *(= was sold for)* £25 000 at auction.
  • The house is up for auction *(= will be sold at an auction)*.
  • an internet auction site
  • I try to buy furniture at auctions because it is cheaper that way.
  • In a reverse auction, the price is driven steadily down.
  • The estate is holding an auction to raise money.
  • The goods were put up for sale by auction.
  • The horse will be put up for public auction.

Usage notes

Used in contexts involving sales and bidding, such as art auctions or charity auctions. Not typically used in casual conversation about everyday purchasing.

Grammar pattern

auction + object

Memory hint

Imagine a crowd bidding on a unique item, shouting 'auction!' as they compete.

Collocations

  • public
  • charity
  • Internet
  • hold
  • conduct
  • attend
  • take place
  • house
  • room
  • item
  • at auction
  • by auction

Synonyms

  • bidding
  • sale
  • lot
  • tender
  • exhibition

Antonyms

  • purchase
  • buy

Common mistakes

  • Confused with 'action' due to similar sound.
  • Using 'auction' as a verb incorrectly (it is primarily a noun).
  • Believing auctions are only for expensive items, while they can be for various items.