Definition & Meaning of "Auction"

auction

/ˈɔːkʃən/

/ˈɑkʃən/, /ˈɔkʃən/

a public sale in which goods or properties are sold to the person who bids higher

(bridge) the process by which players bid on the right to name the trump suit and the number of tricks they expect to take in a particular hand

to sell goods or services by putting them up for bidding, allowing potential buyers to offer prices in a competitive process

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