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Related to auction: Online auction, Auction sites

auction off

To sell an item to the highest bidder. We're auctioning off a car at the charity event this year.
See also: auction, off

Dutch auction

An auction in which the asking price is set high and then lowered until someone buys the item. What is this, a Dutch auction? Why is the auctioneer starting out at $1,000 for that piece of junk?
See also: auction, Dutch

auction something off

to sell something [to the highest bidder] at an auction. He auctioned his home off. He auctioned off his home. The duke was forced to auction off his ancestral home to pay his taxes.
See also: auction, off

Dutch auction

an auction or sale that starts off with a high asking price that is then reduced until a buyer is found. (Viewed by some as insulting to the Dutch.) Dutch auctions are rare—most auctioneers start with a lower price than they hope to obtain. My real estate agent advised me to ask a reasonable price for my house rather than get involved with a Dutch auction.
See also: auction, Dutch

*up for auction

Fig. to be sold at an auction. (*Typically: be ~; come ~; go ~; put something ~.) The old farm where I lived as a child is up for auction.
See also: auction, up

auction off

To sell something to the person who offers the highest amount of money, at or as at an auction: We don't need this table anymore, so we should auction it off. To clear out the warehouse, the company auctioned off the old inventory.
See also: auction, off
References in periodicals archive ?
The broker benefits in a number of ways, including salvaging a commission on the auction sale.
This really creates an opportunity for first-time home buyers to buy homes at good prices,'' said Sam Luft, national auction marketing coordinator for Larry Latham Auctioneers in Scottsdale, Ariz.
By the second measure, the auction can be a private affair with sealed bids opened by the auctioneer, or it can be conducted in real time, with participants in a single room or connected by phone bidding in public.
Westchester Auctions, LLC, and Schrader Auctions, two leading real estate and auction marketing firms, have created the largest real estate auction partnership in the United States.
Today, the auction market for real estate has grown to $65 billion-plus in sales and according to a recent study done by the National Association of Realtors, by 2010 a staggering one in every three properties will be sold using the auction method.
In 1992, however - with auctions being conducted more frequently, and a general decline of public confidence seen in the long-term appreciation of real estate - developers and sponsors must do much more than simply announce they are having an auction.
The auction is scheduled to have over 120 Mack, Kenworth and Peterbilt trucks (year 2007-2006) to be auctioned.
These findings were reported by the second annual National Real Estate Auction Index compiled by Kennedy-Wilson, Inc.
Deiro & Associates has been one of America's premier family-owned real estate, auction and liquidation company for 30 years.
Vital to the process is hiring a good auction company, he recommends.
NEW YORK -- The greatest rock 'n' roll memorabilia auction of all-time will be a public, all access affair, when VOOM's TREASURE HD Presents: The Dick Clark Auction Live on December 6th.
Birbach, who has sold 3,000 units in the New York metro area with values over $100 million, said the acceptance of the auction will continue to grow because the public wants to determine what prices will be.
The seller of the Otsego Club in Michigan, for example, found the auction the perfect way to help him keep his retirement plans on schedule.
Also highlighting the auction is an 1863 Liberty Seated $1, an 1868 Liberty Seated Dollar, an 1876 Trade Dollar, an 1879 - CC Morgan Dollar, 1879 - CC Morgan Dollars, 1898 China, Fengtien Dollars and an 1883 $2.