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auction

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noun [countable/uncountable] British English pronunciation: auction /ˈɔːkʃ(ə)n/ 
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singularauction
pluralauctions
  1. a public occasion when things are sold to the people who offer the most money for them
    at auction:

    They bought the paintings at auction in 1989.

    up for auction (=being sold at an auction):

    The house is now up for auction.

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