auction

1. A public sale of property to the highest bidder, esp. by a person licensed and authorized for the purpose; a vendue. 2. The things sold by auction or put up to auction. Ask you why Phryne the whole auction buys Pope. Note: In the United States, the more prevalent expression has been "sales at auction," that is, by an increase of bids (Lat. auctione). This latter form is preferable. Dutch auction, the public offer of property at a price beyond its value, then gradually lowering the price, till some one accepts it as purchaser. P. Cyc. To sell by auction.

Source: Webster's Revised Unabridged Dictionary (1913), United States public domain. See methodology for full licensing detail. Word validity for game play may differ from any official game dictionary.