The term 'Parts of Auctions' can refer to the different components that make up an auction. The most common parts of an auction are the opening bid, the bidding process, and the closing bid. The opening bid is the initial price set by the seller, which is then followed by a series of bids from potential buyers. The bidding process is the period of time in which buyers compete to purchase the item at the highest price. The closing bid is the final price that is accepted by the seller. The term 'Offers' (6 letters) refers to the bids made by potential buyers during the bidding process.