Lots for sale here (7)

I believe the answer is:

auction

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'lots for sale here' is the definition.
Although both the answer and definition are singular nouns, I don't see how they can define each other.

This is the entire clue.

Can you help me to learn more?

(Other definitions for auction that I've seen before include "Selling" , "Offer to bidders" , "Public sale by bid" , "Occasion of lots under the gavel" , "Public sale - type of bridge" .)

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