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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 ?
Auction firms, however, can expand their new relationships with brokers beyond "last resort" auctions by adding complementary services to a broker's suite of services.
Tozier, who is interested in social networks, started the auction as an informal experiment about how news spreads through social and professional circles.
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.
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.
Real estate auctions that have been successful in 1992 for the most part incorporated two essential characteristics: * The units being auctioned were a quality product in stable communities * The housing was presented in the vital pre-auction period through well-researched and targeted marketing programs that created excitement by promoting value and savings opportunities as well as lower prices.
The National Real Estate Auction Index tracks auction marketing programs conducted throughout the United States by Kennedy-Wilson.
In this market, many real estate auction companies claim to be competent," said Kosa.
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.