Auction off
Definition 1 of 1
Pro Tip 1/3Competitive Context
Used when items are sold in a competitive environment with potential buyers outbidding each other. 
Artist's original paintings are often auctioned off to collectors.
Pro Tip 2/3Final Decision
Implies the seller's decision to sell is conclusive, often after consideration or due to necessity. 
The bankrupt company had to auction off its assets to pay creditors.
Pro Tip 3/3Public Event
Suggests the sale is a public event rather than a private deal, often with an auctioneer. 
They're going to auction off antique furniture in the town hall next week.