auction /ˈɔːkʃən/noun 2verb 1forms 3phrases 1 noun2 •a sale open to anyone, in which people call out higher and higher prices and the best offer wins •The first stage of a deal, in which players bid to determine the final contract. verb1 •To sell at an auction. formsauctioned · auctioning · auctions Phrases with auction auction offTo sell something at auction.