The term "sale by auction" refers to the process of selling goods or property to the highest bidder. This process is often used for items that are unique or valuable, such as art collections, antiques, and real estate. There are several synonyms for this term, including auction sale, public auction, and auctioning. Other terms that may be used include "auctioneer," "bid," and "hammer price." The process of auctioning involves the auctioneer presenting the item to potential bidders, setting a minimum bid, and then accepting bids until a final price is reached. Auctions are often held in person but can also be conducted online or over the phone.