Auction/ˈɔːkʃn/ Definition 1 of 2Pro Tip 1/3Public Behavior Some auctions are formal events. Understand the etiquette if attending in person. He raised his paddle quietly to bid at the auction. Pro Tip 2/3Variety of Goods Auctions can involve a diverse range of items, not just art or antiques. From cars to collectibles, everything's available at the auction. Pro Tip 3/3Auctioneer's Patter Auctioneers often speak very fast. Practice listening to understand them. The auctioneer's quick chatter added excitement to the bidding.