auctionˈɔk ʃən
auction (v)
- present
- auctions
- past
- auctioned
- past participle
- auctioned
- present participle
- auctioning
auction (n)
- plural
- auctions
auction
auction
English Definitions:
auction, auction bridge (noun)
a variety of bridge in which tricks made in excess of the contract are scored toward game; now generally superseded by contract bridge
auction, auction sale, vendue (verb)
the public sale of something to the highest bidder
auction, auction off, auctioneer (verb)
sell at an auction
auction (Noun)
A public event where goods or property are sold to the highest bidder.
auction (Verb)
To sell at an auction.
Auction
An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction may refer to any mechanism or set of trading rules for exchange.
Auction
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory. The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than the previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically.Auctions are applied for trade in diverse contexts. These contexts include antiques, paintings, rare collectibles, expensive wines, commodities, livestock, radio spectrum, used cars, real estate, online advertising, vacation packages, emission trading, and many more.
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"auction." Kamus.net. STANDS4 LLC, 2024. Web. 29 Mar. 2024. <https://www.kamus.net/english/auction>.
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