Fur auction the British go in for (5)
I believe the answer is:
sable
'fur' is the definition.
(sable is a kind of fur)
'auction the british go in for' is the wordplay.
'auction' becomes 'sale' (I've seen this before).
'the british go' becomes 'b' (I am not sure about this - if you are sure you should believe this answer much more).
'in for' indicates putting letters inside.
'sale' going around 'b' is 'SABLE'.
Can you help me to learn more?
(Other definitions for sable that I've seen before include "Marten's fur - dark black" , "Black (heraldry); fur" , "Dark brown fur of the marten" , "Antelope, fur" , "Bales (anag.)" .)