Crossword Genius

Auction of small beer (4)

Ross

I believe the answer is:

sale

'auction' is the definition.
(I've seen this before)

'small beer' is the wordplay.
'small' becomes 's' (abbreviation - e.g. clothes size).
'beer' becomes 'ale' (type of beer).
's'+'ale'='SALE'

'of' is the link.

(Other definitions for sale that I've seen before include "Cut-price offer" , "Clearance of goods at reduced prices" , "See 12 Down" , "Exchange of goods for fixed amount" , "Disposal - auction" .)

I've seen this clue in The Independent.
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