auctions
n. countable B2 Upper Intermediate US //ˈɑkʃənz// UK //ˈɔːkʃənz// auc·tions
n. public sales where items are sold to the person who offers the most money. You can find these online or in person for things like art, cars, or houses.
n. public sales in which goods or property are sold to the highest bidder. Often used in plural to refer to the general practice or a series of such events.
The company sells its old equipment at local auctions.
Many collectors spend their weekends attending estate auctions to find rare furniture and vintage jewelry.
Government agencies often use auctions to allocate radio spectrum licenses, ensuring that the limited frequencies go to the telecommunications firms that value them most.
Usage
Commonly used with the prepositions 'at' or 'by' ('sold at auction').