What does a lot mean in a auction?

In an auction, a "lot" refers to a specific item or group of items being sold as a single unit. It can be anything from a single collectible or piece of art to a collection of goods or even real estate. Each lot is assigned a unique number and is typically described in detail to inform bidders about what is included and its condition. Bidders place bids on lots during the auction, and the highest bid wins that particular item or group.