auction
UK: ˈɔːkʃ(ə)n | US: ˈɔːkʃ(ə)n
n. a public sale in which goods or property are sold to the highest bidder
vt. to sell something at an auction
auction = auc<increase> + tion<noun suffix>
- auc (from Latin augēre, meaning "to increase" or "to promote")
- tion (a noun-forming suffix indicating an action or process)
Etymology Origin:
The word "auction" traces back to Latin auctiō, derived from augēre ("to increase"). The concept reflects the competitive bidding process, where prices "increase" as participants outbid one another. The suffix -tion standardizes it as a noun denoting the event or process. Over time, the term evolved through Old French auction before entering Middle English, retaining its core meaning of a sale by incremental offers.
The rare painting was sold at a high-profile auction for millions.
They decided to auction their vintage car collection.
The charity auction raised funds for local schools.
Online auctions have become increasingly popular.
He won the bid at the last moment during the auction.