The term 'Auction Off' is a phrase used to describe the process of selling an item or items through an auction. An auction is a process in which goods or services are offered for sale, usually to the highest bidder. In an auction, bidders compete against each other by offering increasingly higher prices for the item being sold. The seller then chooses the highest bidder and the item is sold to that bidder. The term 'Auction Off' is used to describe the process of selling an item or items through an auction.