Auction
nounauc·tionpronounced AWK-shuhn
Last updated 21 April 2026
What does the noun Auction mean?
A public sale where bidders compete openly for a property. The contract is unconditional from the moment the hammer falls — there are no cooling-off rights at auction in any Australian state.
Cite this entry
MLA citation: "Auction." How to Property, 21 Apr. 2026, https://howtoproperty.com.au/definitions/auction. Accessed 21 Apr. 2026.
Chicago citation: How to Property. "Auction." Last modified April 21, 2026. https://howtoproperty.com.au/definitions/auction.
APA citation: How to Property. (2026, April 21). Auction. https://howtoproperty.com.au/definitions/auction