Pronunciation: (ôk'shun), [key]
1. Also called public sale. a publicly held sale at which property or goods are sold to the highest bidder.
a. See auction bridge.
b. (in bridge or certain other games) the competitive bidding to fix a contract that a player or players undertake to fulfill.
to sell by auction (often fol. by off): He auctioned off his furniture.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.