Etymology
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sellout (n.)

also sell-out, "corrupt bargain," 1862 (in Mary Chesnut's diary), from the verbal phrase (which from 1796 meant "dispose entirely of one's interests" in a company, etc.); see sell (v.) + out (adv.). Meaning "event for which all tickets have been sold" is attested from 1923. The verbal phrase sell out in the sense of "prostitute one's ideals or talents" is attested from 1888 (selling out).

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Definitions of sellout

sellout (n.)
someone who has sold out;
sellout (n.)
an event for which all tickets are sold;
get your tickets for the concert early, it is sure to be a sellout
sellout (n.)
the selling of an entire stock of something;
the latest Xbox game is so popular, shops are warning of a probable sellout before Christmas
sellout (n.)
a betrayal of one's principles principles, country, cause, etc.;
From wordnet.princeton.edu