auction
n.
public sale where items are sold to the highest bidder
v.
sell at an auction (public sale in which items are sold to the highest bidder)
Auction
An auction is the
process of
buying and selling goods by offering them up for bid, taking bids, and then selling the item to the winning bidder. In
economic theory, an auction is a method for determining the value of a
commodity that has an undetermined or variable
price. Auctioning can be traced as far back as 500 B.C. Auctions can be with
reserve or minimum, or without minimums, or absolute or no reserve. In reserve auctions, there is a minimum bid or reserve price; if the bidding does not reach the minimum, there is no sale (but the person who puts the item up for auction may still owe a fee to the auctioneer or auction company). In absolute or no reserve auctions, the sale is guaranteed, with only the price left to be determined. In the context of auctions, a bid is an offered price.
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auction
Noun
1. a variety of bridge in which tricks made in excess of the contract are scored toward game; now generally superseded by contract bridge
(synonym) auction bridge
(hypernym) bridge
2. the public sale of something to the highest bidder
(synonym) auction sale, vendue
(hypernym) sale
(derivation) auction off, auctioneer
(class) upset price
Verb
1. sell at an auction
(synonym) auction off, auctioneer
(hypernym) sell
(derivation) auction sale, vendue
(classification) commerce, commercialism, mercantilism
Auction
(v. t.)
To sell by auction.
(n.)
The things sold by auction or put up to auction.
(n.)
A public sale of property to the highest bidder, esp. by a person licensed and authorized for the purpose; a vendue.
Webster's Revised Unabridged Dictionary (1913), edited by Noah Porter.
About
Auction
To dream of an auction in a general way, is good. If you hear the auctioneer crying his sales, it means bright prospects and fair treatment from business ventures.
To dream of buying at an auction, signifies close deals to tradesmen, and good luck in live stock to the farmer. Plenty, to the housewife is the omen for women. If there is a feeling of regret about the dream, you are warned to be careful of your business affairs.
Ten Thousand Dreams Interpreted, or "What's in a dream": a scientific and practical exposition; By Gustavus Hindman, 1910. For the open domain e-text see:
Guttenberg Project
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