Where lots go despite rising prices (7)

I believe the answer is:

auction

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'where lots go' is the definition.

I don't understand the remainder of the clue.

(Other definitions for auction that I've seen before include "Public sale at which bids are made" , "Lots are sold here!" , "Where things are sold to the highest bidder" , "Caution about method of sale" , "Offer to bidders" .)

I've seen this clue in The Globe and Mail.

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