auction
糶 centers on the act of selling goods to the highest bidder: an auction. It is a specialized character for this commercial exchange.
糶 combines 出 (go out) and 米 (rice) with 翟, which likely contributes the sound. The structure suggests grain going out for sale, fitting the auction meaning.
The left side shows 出 (exit) over 米 (rice), like rice being put out for sale. The right side 翟 can be seen as a busy market bird overseeing the auction.
For チョウ, imagine a long auction where a distinctive auctioneer named Chou calls out bids: Chou -> チョウ, and the rice is sold to the highest bidder.