The definition of an auction is a sale of one or several items in which buyers bid how much they are willing to pay.(noun)
An example of an auction is a the sale of a foreclosed house to the highest bidder.
Auction is defined as to sell an item to the buyer who will pay the most, instead of for a set price.(verb)
An example of to auction is to sell an item using eBay to the highest bidder.
See auction in Webster's New World College Dictionary
Origin: L auctio, an increasing, sale by increase of bids < auctus, pp. of augere, to increase: see wax
See auction in American Heritage Dictionary 4
Origin: Latin auctiō, auctiōn-
Origin: , from auctus
Origin: , past participle of augēre, to increase; see aug- in Indo-European roots.
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