a usually public sale of goods or property, where people make higher and higher bids (= offers of money) for each thing, until the thing is sold to the person who will pay most:
a furniture auction
They're holding an auction of jewellery on Thursday.
The painting will be sold at auction next week.
The house and its contents are being put up for auction.
Two senior officials have been entrusted with organizing the auction.
Amongst other pop ephemera, the auction will be selling off rock stars' stage clothes.
A rare Stradivarius violin failed to reach its reserve price when put up for auction on Tuesday.
In an auction, goods or property are sold to the highest bidder.
She bought the bed for a song at an auction.
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