Pronunciation: (ôk'shun),[key] —n. 1. Also calledpublic sale. a publicly held sale at which property or goods are sold to the highest bidder.
2. Cards. 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.
—v.t. to sell by auction (often fol. by off): He auctioned off his furniture.