/ˈpʌblɪk ˈɔːkʃən/ – Phrase
Definition: Đấu giá công cộng.
A more thorough explanation: a meeting at a location announced to the public to sell private (=owned by an individual) property to pay off a debt or to sell public (=owned by the state) property
Example: The restaurant has now closed and is scheduled for public auction next month.