auction

auction
A common method of issuing gilts. Similar to a tender offer. In an auction, investors apply to buy the new gilts being issued, specifying the amount they wish to purchase and the price they are prepared to pay. The new gilts will be issued to investors who bid the highest prices and investors pay the price which they bid. This is the one difference between the auction and the tender - in a tender investors all pay the same strike price, regardless of what price they bid. Dresdner Kleinwort Wasserstein financial glossary

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▪ I. auction auc‧tion 1 [ˈɔːkʆn ǁ ˈɒːk-] noun [countable] COMMERCE
1. a public meeting where land, buildings, paintings etc are sold to the person who offers the most money for them:

• Sotheby's estimated that its Impressionist paintings auction would take in about $80 million.

• The buildings will be sold at auction next month.

2. put something up for auction to offer something for sale in an auction:

• The house was put up for auction.

ˈabsolute ˌauction COMMERCE
an auction where there is no minimum price set by the seller, and something is sold to the person offering the most money
ˈDutch ˌauction COMMERCE
1. an auction at which the price of something is gradually reduced until someone buys it
2. a system sometimes used in the US when a company buys back its shares or bonds. It sets a price range, and holders of the shares or bonds give a price at which they are willing to sell. The buyer then chooses a price and buys from holders who offered to sell at that price or lower
3. a system for selling a number of similar items
ˌopen-ˈcry ˌauction also ˌopen-ˈoutcry COMMERCE
an auction at which buyers shout out the prices they are willing to pay
ˌsealed-ˈbid ˌauction COMMERCE
an auction in which buyers write down the price they are willing to pay and hand it in so that other buyers do not know how much they have offered:

• The houses are to be sold by sealed-bid auction.

  [m0] ▪ II. auction auction 2 verb [transitive] COMMERCE
to offer something for sale at an auction:

• Repossessed houses are often auctioned.

auction something off

• Fleet arranged to auction off the company's inventory and equipment.

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   A public sale of a security whereby the issuer invites authorized dealers to make bids in price or yield until the full amount of the issue is sold.

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Ⅰ.
auction UK US /ˈɔːkʃən/ noun [C or U] COMMERCE, E-COMMERCE
► a public sale in which goods or property are sold to the person who offers the most money: sell sth at auction »

The painting was sold at auction for €12 million.

 hold an auction »

We held a charity auction in aid of the local hospital.

 be up/come up/go up/be put up for auction »

One of the prints recently came up for auction in the United States.

 an internet/online/public auction »

You can bid for it in an online auction.

→ See also ABSOLUTE AUCTION(Cf. ↑absolute auction), CALL AUCTION(Cf. ↑call auction), DUTCH AUCTION(Cf. ↑Dutch auction), OPEN-CRY AUCTION(Cf. ↑open-cry auction), REVERSE AUCTION(Cf. ↑reverse auction), SEALED-BID AUCTION(Cf. ↑sealed-bid auction), UNIFORM PRICE AUCTION(Cf. ↑uniform price auction)
Ⅱ.
auction UK US /ˈɔːkʃən/ verb [T] (also auction off) COMMERCE, E-COMMERCE
► to sell something in a public auction: »

The stamps will be auctioned tomorrow.

 »

The family is auctioning off its art collection.


Financial and business terms. 2012.

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Synonyms:
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Look at other dictionaries:

  • auction — auc·tion n: a public sale of property to the highest bidder see also reserve Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. auction …   Law dictionary

  • auction — [ôk′shən] n. [L auctio, an increasing, sale by increase of bids < auctus, pp. of augere, to increase: see WAX2] 1. a public sale at which items are sold one by one, each going to the last and highest of a series of competing bidders 2. AUCTION …   English World dictionary

  • Auction — Auc tion, n. [L. auctio an increasing, a public sale, where the price was called out, and the article to be sold was adjudged to the last increaser of the price, or the highest bidder, fr. L. augere, auctum, to increase. See {Augment}.] 1. A… …   The Collaborative International Dictionary of English

  • auction — (n.) a sale by increase of bids, 1590s, from L. auctionem (nom. auctio) an increasing sale, auction, public sale, noun of action from pp. stem of augere to increase, from PIE root *aug to increase (see AUGMENT (Cf. augment)). In northern England… …   Etymology dictionary

  • auction — ► NOUN ▪ a public sale in which goods or property are sold to the highest bidder. ► VERB ▪ sell at an auction. ORIGIN Latin, increase, auction , from augere to increase …   English terms dictionary

  • Auction — Auc tion, v. t. To sell by auction. [1913 Webster] …   The Collaborative International Dictionary of English

  • Auctĭon — (v. lat.), die öffentliche Versteigerung verkäuflicher Dinge; eine schon den Römern bekannte Art, Sachen in Geld umzusetzen. Sie ward bekannt gemacht durch einen Ausrufer (Praeco) od. einen schriftlichen Anschlag (Libellusauctionarius,… …   Pierer's Universal-Lexikon

  • Auction — Auction, Versteigerung, Gant, der öffentliche Verkauf an den Meistbietenden; auctionis lege, durch öffentliche Versteigerung; auctioniren, versteigern; Auctionator, wer die Versteigerung besorgt, überall obrigkeitlich verpflichtete Personen …   Herders Conversations-Lexikon

  • auction — [n] competitive sale; sale by bid bargain, jam*, sell off; concepts 324,345 …   New thesaurus

  • Auction — Auctioneer redirects here. For the DC Comics supervillain, see Auctioneer (comics). An auctioneer and her assistants scan the crowd for bidders. An auction is a process of buying and selling goods or services by offering them up for bid, taking… …   Wikipedia

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