Go on the block
Definition 1 of 1
Pro Tip 1/3Auction Setting
The phrase is used when items are officially sold to the highest bidder, often at a public event. 
Grandma's vintage jewelry is going to go on the block next Saturday.
Pro Tip 2/3Figurative Use
It can be used metaphorically to indicate someone or something is being evaluated for change of ownership. 
After the scandal, the CEO's position went on the block.
Pro Tip 3/3Economic Troubles
The phrase often indicates financial necessity or distress leading to the sale. 
The bankrupt company's assets will go on the block tomorrow.