penny auction
penny auction · penny auctions
A kind of auction that charges bidders a small fee for each bid placedA kind of auction that charges bidders a small fee (such as one penny) for each bid placed.
Meaning
2 sensesA kind of auction that charges bidders a small fee (such as one penny) for each bid placed.
(historical)Especially during the Great Depression, the use of intimidation to force the sale of a foreclosed property at a low price, with the intent of returning the property to its previous owner.
Forms
plural: penny auctions| Singular | penny auction |
|---|---|
| Plural | penny auctions |
regular