La palabra del día: Subasta

Feminine noun. Public sale of goods that is made to the highest bidder, and regularly by mandate and with the intervention of a judge or other authority. E.g.: Pujé por un famoso cuadro en la subasta: I bid for a famous painting at the auction. The verb is subastar.
An almost perfect synonym of subasta is remate, masculine noun. For example, Christie’s can be called casa de remates or casa de subastas. Paraphrasing Borges, shall I confess that I -moved by that most sincere of Argentinian passions- snobbery, personally would use remate when it is a private action and subasta when there is the intervention of a judge or an authority. So, casa de remates is my choice; but, nothing prevents you to use them interchangeably. The verb is rematar. dc