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.
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.
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.
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.