[ 'ɔ:kʃ(ə)n ]
■ noun
1》 a public sale in which goods or property are sold to the highest bidder.
2》 Bridge the part of the game in which players bid to decide the contract in which the hand shall be played.
■ verb sell or offer for sale at an ~.
Origin
C16: from L. auctio(n-) 'increase, ~'.