auction
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auction
A public event where things, such as art, real estate, or antiques, are sold to the person who makes the highest bid; an auction.
Das seltene Gemälde kam bei einer großen Versteigerung in London unter den Hammer.
The rare painting went under the hammer at a major auction in London.
'Die Versteigerung' (the auction) is a noun derived from the verb 'versteigern' (to auction off). The ending '-ung' turns the action of the verb into a noun that describes the event itself.
Die Versteigerung des Nachlasses findet nächsten Monat statt.
The auction of the estate will take place next month.
Common verbs used in connection with 'Versteigerung' (auction) are 'an einer Versteigerung teilnehmen' (to take part in an auction), 'etwas bei einer Versteigerung erwerben' (to acquire something at an auction), or 'etwas zur Versteigerung bringen' (to put something up for auction).
Er hat das Bild bei einer Versteigerung für einen hohen Preis erworben.
He acquired the painting at an auction for a high price.
A very common idiom is 'etwas kommt unter den Hammer' (something goes under the hammer). It means that something is being auctioned off.
Das Haus seiner Großeltern kommt nächste Woche unter den Hammer.
His grandparents' house is going under the hammer next week.
sale / sales
'der Verkauf' and 'die Versteigerung' both have to do with something going to another person in exchange for money. 'der Verkauf' is the general process: a price is agreed on or already fixed, and someone buys the goods. 'die Versteigerung' is a special form of sale. Several people bid money, and in the end the item usually goes to the person who bids the most. The words can be confused because every 'Versteigerung' is also a sale. But not every 'Verkauf' is a 'Versteigerung'.
Bei der Versteigerung bot ein Sammler den höchsten Preis für das Bild.
At the auction, a collector bid the highest price for the painting.
Der Verkauf des alten Fahrrads war nach zwei Tagen abgeschlossen.
The sale of the old bicycle was completed after two days.