Origin: 1585–95; < Latin auctiōn- (stem of auctiō) an increase, especially in the bidding at a sale, equivalent to auct(us) increased, past participle of augēre (aug- increase + -tus past participle suffix) + -iōn--ion
"a sale by increase of bids," 1590s, from L. auctionem (nom. auctio) "an increasing sale," from auctus, pp. of augere "to increase," from PIE base *aug- "to increase" (see augment). In northern England and Scotland, called a roup. The verb is attested from 1807. In the U.S.,