auction

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auction

the competitive calls made in bridge and other games before play begins, undertaking to win a given number of tricks if a certain suit is trumps

Auction

 

in international trade, a method of selling certain goods (such as fur pelts, tobacco, and tea) in separate lots. Prior to an auction the goods (or samples of them) are exhibited for the inspection of possible buyers. The time and place of the auction are announced beforehand. The general conditions of the sale of goods are determined by the seller. The buyer is considered to be the person who during the course of the auction has offered the highest price. At an auction, in contrast to an ordinary sale, the seller is absolved from responsibility for the quality of the goods that are sold. In the USSR, international auctions for the sale of fur pelts are regularly held in Leningrad.

At the form of auction known as a public sale there is a forced sale of the property of people who cannot pay their debts. Goods are also sold if they have not been claimed on time from transportation and warehouse enterprises and in certain other cases.

V. S. POZDNIAKOV

References in periodicals archive ?
But she had stressed that the highest bidder may not be the guy whom she would have sex with because she reserved the right to vet especially if she feels her safety would be compromised.
Second highest bidder, Sabanci Holding, would continue the process, said Yildiz.
On top of the bat and shirt, I will give two tickets to our Perth ODI and I will pay for flights and two nights accommodation to the highest bidder from anywhere in the world.
Also up for auction to the highest bidders are four single-family homes which would make potential investment or rental properties, along with a vacant lot which has been used for parking.
Now they are in negotiations with developers to demolish the historic Providence School and sell the site to the highest bidder for flats.
Calumet Farm, the legendary showplace for thoroughbred breeding and racing, will be sold at Absolute Auction to the highest bidder regardless of price, Thursday, March 26 at 11:00 a.
The mysterious highest bidder goes by the code name petal1230_14.
In an invitation-only evening, hosted by Parlux Fragrance (Nasdaq:PARL) and Tourneau, the first watch created for Paris Hilton was auctioned off to the highest bidder by Antiquorum Auction House.
The Georgesville Road property will be offered for sale to the highest bidder at a reserve auction scheduled for Thursday, March 10, 2005.
NASCAR fans are racing to be the highest bidder on eBay this week
Warfield Street for sale to the highest bidder, through a reserve auction process scheduled for December 2, 2004.
As Consolidated Freightways completes the largest real estate sale in transportation history - 229 total properties with an appraised value over $400 million - the company announced that it is placing its York distribution facilities and adjacent undeveloped land, located at 405 Church Road and Crone Road, for sale individually or together to the highest bidder, through an auction scheduled for December 2, 2004.