Auction set Meaning: Definition, Examples, and Translations

Home
/ Dictionary
/ Auction set

🔨

Add to dictionary

auction set

[ˈɔːkʃən sɛt ]

Definitions

^{Context #1 | Noun}

buying and selling goods or services

An auction is a public sale where goods or property are sold to the highest bidder. It is a method of buying and selling items by offering them up for bid, taking bids, and then selling the item to the highest bidder.

Synonyms

auctioning, bidding, sale.

Which Synonym Should You Choose?

Word	Description / Examples
auction set	Used to describe the items that are prepared and grouped together for an auction event. The auction set includes several rare paintings and antique furniture The auction set will be displayed before the event begins
sale	General term for the act of selling goods or services in exchange for money. It doesn't imply a competitive atmosphere like an auction. The store is having a big sale this weekend with discounts up to 70% He completed the sale of his old car yesterday
bidding	Describes the action of placing offers to buy something, usually in a competitive context like an auction. The bidding started at $100 and quickly rose to $5000 Online bidding for the charity event opens at noon
auctioning	Refers to the process of selling items at an auction, where potential buyers place bids. They are auctioning off old office equipment to make space for new furniture The auctioning of the property attracted a lot of attention from prospective buyers

Examples of usage

The auction set a new record for the highest price ever paid for a painting.
She won the auction for the antique furniture set.

^{Context #2 | Noun}

group of items sold together

A set in an auction refers to a group of items that are sold together as a single lot. It can include a collection of related items or a bundle of goods that are auctioned off as a unit.

Synonyms

bundle, collection, lot.

Which Synonym Should You Choose?

Word	Description / Examples
auction set	Used when referring to items grouped together for the purpose of being sold at an auction. This phrase emphasizes the setting of the auction. He obtained an antique auction set that included rare coins and stamps. The auction set was displayed prominently for all potential buyers to examine.
collection	Denotes a group of items that have been gathered or accumulated, often over time, for a specific purpose or by a specific person. This term is commonly used for hobbyist gatherings like stamps, coins, or artwork. His collection of vintage cars is extraordinary. The museum has a new collection of Renaissance paintings on display.
lot	Generally used to refer to a group of items that are being sold together, typically in an auction or sale setting. Has a slightly neutral or formal tone and can be used in both commercial and informal contexts. The lot of jewelry attracted many bidders at the auction. He sold the entire lot of books to a single buyer.
bundle	Refers to a collection of items that are grouped together, often sold as a single unit. Typically used in commercial or retail contexts where items are packaged together to add value. She bought a bundle of kitchen utensils on sale. The software company offers a bundle that includes both the antivirus and the backup solution.

Examples of usage

The auction set included a set of fine china and silverware.
They decided to bid on the entire set of vintage vinyl records.

^{Context #3 | Verb}

arrange for sale by auction

To auction set means to organize or arrange for items to be sold at an auction. It involves preparing the items for sale, setting a date and time for the auction, and promoting the event to attract bidders.

Synonyms

put up for bid, sell at auction.

Which Synonym Should You Choose?

Word	Description / Examples
auction set	The term 'auction set' is not commonly used in English, but if it were, it might refer to a collection of items prepared for auction or the setting where an auction takes place. The auction set will include antique furniture and rare paintings
sell at auction	Use this phrase when referring to actually selling items through the process of an auction. It emphasizes the method of sale. He plans to sell his vintage car at auction to get the best price
put up for bid	This phrase is appropriate when describing the act of offering something for sale, especially in an auction, by inviting potential buyers to make offers or bids. The company put up for bid several rare artifacts from its collection

Word

Description / Examples

auction set

The term 'auction set' is not commonly used in English, but if it were, it might refer to a collection of items prepared for auction or the setting where an auction takes place.

The auction set will include antique furniture and rare paintings

sell at auction

Use this phrase when referring to actually selling items through the process of an auction. It emphasizes the method of sale.

He plans to sell his vintage car at auction to get the best price

put up for bid

This phrase is appropriate when describing the act of offering something for sale, especially in an auction, by inviting potential buyers to make offers or bids.

The company put up for bid several rare artifacts from its collection

Examples of usage

They decided to auction set their antique jewelry collection.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Historical Origins

The first recorded auction took place in ancient Babylon around 500 BC, where women were sold into marriage.
In the Roman Empire, auctions were often used to dispose of property and possessions of debtors, showcasing the practice’s long-standing history.

Pop Culture

The famous auction house Sotheby's, established in 1744, has sold many historical artifacts and artworks, making it a pop culture staple in the art world.
Modern reality TV shows often showcase auction events, highlighting both the excitement and strategy involved in bidding.

Economics

Auctions can promote market efficiency by discovering the true value of items through competitive bidding.
Online platforms like eBay have revolutionized the auction format, allowing people worldwide to participate in buying and selling.

Psychology

Bidding in auctions can trigger competitive instincts, leading participants to bid more than they originally intended due to excitement.
Research shows that people often experience 'winner's curse,' where the winning bid exceeds the item's actual value because of emotional involvement.

Origin of 'auction set'

Main points about word origin

The word 'auction' comes from the Latin word 'auctio,' meaning 'to increase,' reflecting how bidding raises the price.
The term 'set' is derived from the Old French 'set,' which means 'to place' or 'to put,' indicating items placed together for sale.

The word 'auction' originated from the Latin word 'auctio', meaning an increase or growth. The concept of auctions dates back to ancient Greece, where goods and property were sold to the highest bidder. Auctions have been used throughout history as a method of commerce, and they continue to be a popular way of buying and selling goods in modern times.