競売

1. Origins, structure, and basic meaning

• Structure: 競売 is read as きょうばい and is a noun for an auction in which multiple participants offer prices and an item or right is sold under the stated conditions.
• Basic usage: An old watch being offered at auction appears in 競売に出る, while collectors taking part in an auction of a painting appear in 絵の競売に参加する.

2. Common pitfalls and similar expressions

• Competition determines the buyer
  • Rather than a sale at one fixed price, it compares offers from multiple participants to determine the transaction.
• Difference from 入札
  • Unlike the individual act of submitting a price or terms, this word denotes the auction process in which those offers are received and the item is sold.