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It means to throw up and comes from the sound Bu.....ick.
Usualy an admonision not to throw up at a party, "No Buicks sold on the premisis"
by Laenas October 14, 2004
(slang) the act of regurgitating, or vomiting
"Tom is outside on the lawn, selling a buick"
"We partied so hard that Jay had to run to the bathroom to sell a buick"
by Mingo February 21, 2006