A common type of fundraiser used by by both fraternities and sororities. "Dates" with members of the Greek
organization are sold at silent auction, this is a cover for
prostitution. When a naive individual wins the auction an actual date may take place, but this is usually forgone in the interest of time and money. It is an acceptable gesture to "give someone the night off" by winning them at auction but electing not to
have your way with them.
Jack: "Hey man
check it out, the Date a Greek fundraiser is going on again!
I think I'm gonna buy me two and have a
threesome"
Bill: "What are you talking about? They're auctioning off dates"
Jack: "Dates that always have happy endings"
Bill: "No way, that's a Catholic soroity"
Jack: "Exactly"
Bill: "Ohhh. I never knew"