01 n. A public sale of property to the highest bidder, esp. by a person licensed and authorized for the purpose; a vendue.
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1.
A public sale of property to the highest bidder, esp. by a person licensed and authorized for the purpose; a vendue.
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2.
The things sold by auction or put up to auction.“Ask you why Phryne the whole auction buys ?” — Pope.
Phrases & compounds
Dutch auction —
the public offer of property at a price beyond its value, then gradually lowering the price, till some one accepts it as purchaser.