The term "auctioneer's last word" refers to the final bid made by the auctioneer before an item is sold. Synonyms for this phrase include the "hammer price," "final bid," "closing bid," and "winning bid." These terms all signify the last bid accepted by the auctioneer and represent the final price at which the item was sold. Other related phrases include "sold to the highest bidder," "sold at the fall of the hammer," and "going, going, gone." These terms are commonly used in auctions to indicate that the bidding has ended and the item has been sold.