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Auction vs Preauction - What's the difference?

auction | preauction |

As a noun auction

is a public event where goods or property are sold to the highest bidder.

As a verb auction

is to sell at an auction.

As an adjective preauction is

before an auction.

auction

English

(wikipedia auction)

Noun

(en noun)
  • A public event where goods or property are sold to the highest bidder.
  • *{{quote-magazine, date=2014-07-12, volume=412, issue=8895, magazine=(The Economist)
    • , title= Competition, hammered , passage=Auctions' come in a wide variety. In a “Dutch '''auction'''”, often used to sell flowers and fruit, prices start high and gradually drop until a bidder is willing to pay up. A “Japanese '''auction'''” is a bit like poker: bids rise with each round and anyone who wants to win must bid every time. Vendors using ' auctions rid themselves of the headache of choosing prices and instead just pick the rules bidders must follow.}}

    Synonyms

    * roup sale

    Derived terms

    {{der3, auctionable , auction house , auctionlike , Dutch auction , Vickrey auction , silent auction}}

    Verb

    (en verb)
  • To sell at an auction.

    • Derived terms

    * auctioneer * auction off

    See also

    * bid * bidder

    Anagrams

    *

    preauction

    English

    Adjective

    (-)
  • Before an auction.
  • *{{quote-news, year=2008, date=May 8, author=Sophia Kishkovsky, title=A Treasure Is Restored, With Culture Its Bounty, work=New York Times citation
    • , passage=Christie’s held a preauction showing for rich Russian art collectors at Pashkov House last fall, and Boucheron, the French jewelry house, held an exhibition and soirée there in March. }}