A historical term relating to auction or the right to conduct auctions; a place or position associated with auctioneering.
From Latin 'auctio' (a bidding up or auction) with the suffix '-ary' (relating to), from 'augere' (to increase or raise).
The word 'auction' comes from Latin 'augere' meaning 'to increase'—which makes perfect sense because in an auction, the price keeps going UP as people bid against each other!
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