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Property Definition

–noun, plural -ties.
1. that which a person owns; the possession or possessions of a particular owner: They lost all their property in the fire.
2. goods, land, etc., considered as possessions: The corporation is a means for the common ownership of property.
3. a piece of land or real estate: property on Main Street.
4. ownership; right of possession, enjoyment, or disposal of anything, esp. of something tangible: to have property in land.
5. something at the disposal of a person, a group of persons, or the community or public: The secret of the invention became common property.
6. an essential or distinctive attribute or quality of a thing: the chemical and ph 1056 ysical properties of an element.
7. Logic.
a. any attribute or characteristic.
b. (in Aristotelian logic) an attribute not essential to a species but always connected with it and with it alone.
8. Also called prop. a usually movable item, other than costumes or scenery, used on the set of a theater production, motion picture, etc.; any object handled or used by an actor in a performance.
9. a written work, play, movie, etc., bought or optioned for commercial production or distribution.
10. a person, esp. one under contract in entertainment or sports, regarded as having commercial value: an actor who was a hot property at the time.
From Dictionary

Auction Definition

–noun
1. Also called public sale. a publicly held sale at which property or goods are sold to the highest bidder.
2. Cards.
a. auction bridge.
b. (in bridge or certain other games) the competitive bidding to fix a contract that a player or players undertake to fulfill.
–verb (used with object)
3. to sell by auction (often fol. by off): He auctioned off his furniture.
From Dictionary

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