A public event where goods or property are sold to the highest bidder. (noun)
To sell at an auction. (verb)
Examples of word auction
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.
To help relieve the pressures in the market for interbank lending, the Federal Reserve, among other actions, recently introduced the term auction facility through which pre-specified amounts of discount window credit are auctioned to eligible borrowers.
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.
The central bank unveiled the term auction facility last week as part of a coordinated effort with other central banks to inject liquidity into global financial market suffering fallout from the subprime debacle in the U.S.
Barclays was the biggest borrower under one scheme, the term auction facility, taking loans totalling $232bn, which it has since repaid
Barclays was the biggest borrower under one scheme, the term auction facility, taking loans totalling $232bn, which it has since repaid.
On Dec. 20, 2007, for example, at least seven German banks, including Dresdner Bank and WestLB, received 28-day loans under the term auction facility.