also: はつセリ
noun
first auction of the year at a wholesale market
Typically refers to the first auction of seafood, fruit, or other produce at a wholesale market after the New Year holiday. Often a festive event with high prices.
築地市場の初競りで、マグロが高値で落札された。
At the first auction of the year at Tsukiji Market, a tuna was sold for a high price.
初競りは毎年1月5日に行われる。
The first auction of the year is held on January 5th every year.
Compound of 初 (hatsu, 'first') and 競り (seri, 'auction'). The reading はつせり is a straightforward combination.