auction · noun C or U /ˈɔːk.ʃən/Full view
C1 a sale in which things are sold to the person who offers the most money
Dictionary example:

The furniture was sold at auction.

Learner example:

And funds could be raised for the changes by [hold]ing auctions, runs, parties, raffles, contests etc. (Certificate in Advanced English; C1; Spanish)

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