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Chinese auction. A Chinese auction is a combination of a raffle and an auction that is typically featured at charity, church festival and numerous other events. Can also be known as penny social, penny sale, tricky tray or pick-a-prize according to local custom, or to avoid causing offense.
auction. Common name for several types of sales where the price is neither set nor arrived at by negotiation, but is discovered through the process of competitive and open bidding.