Dictionary of Computer and Internet Terms: auction
auction
a sale in which buyers make bids (offers) and the highest offer is accepted. For information about online auctions see eBay.
Dictionary of Real Estate Terms: auction
auction
a way of marketing property to the highest bidder. bids are
Example: fannie mae agrees to buy mortgages once a week via an auction. Mortgage sellers state the price or yield they want, and Fannie Mae accepts the highest yields offered.
