An auction market is a market in which buyers bid against each other to set the selling price of a financial instrument. The price a stock trades at represents the highest price a buyer is willing to pay for the stock, and is also the lowest price that a seller is willing to sell at for given period of time. An auction market
provides a means for buyers and sellers to compete in real-time, with the stocks and bonds typically going to the highest
Additional meaning of Auction Market:
Auction market may sometimes be referred to as open outcry trading.