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"fair auction" is correct and usable in written English.
It is an idiomatic phrase used to describe an auction where the rules are the same for everyone and all items have an equal chance of being sold. For example, "My father found a great deal on a used car at a fair auction last week."
Exact(13)
The sellers of the team, however, are expected to argue that a full and fair auction has been held.
There are sufficient rivals to Sky in the second round to guarantee a fair auction, and a decent price.
His one serious showdown with the tycoons came last month when he insisted on a free and fair auction for Rosneft, the last big state-owned oil company to be sold.
Although Judge Jones dismissed Mr. Solow's request for a declaratory judgment and Conseco's motion for dismissal, she said that the case could go forward on the allegations that Conseco breached its duty to hold a fair auction and committed fraud.
Mr. Solow's suit, however, contends that under New York law, Conseco had a legal and fiduciary obligation to conduct a fair auction and get the highest possible price for the property.
"They should have a fair auction process and let the best bid go to the shareholders, and not do anything to thwart that process," Mr. Icahn, 71, said in a telephone interview.
Similar(47)
Later, Yeltsin's more liberal advisers considered waging battle against the tycoons and holding fair auctions for state enterprises.
At fairs, auction houses and galleries, an influx of new buyers many of them from the world of finance have entered the fray.
Though Anderson indulges in the usual trappings of public-school fund-raising — bake sales, book fairs, auctions — this letter is blunter: It urges parents to simply write a check.
The meal itself requires marathon sprints between Manhattan art fairs, auctions and galleries, not to mention Asia-intensive institutions like the Metropolitan Museum, Japan Society and Asia Society, all with new shows this spring.
There are art fairs, auctions, galleries but there are no institutions.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com