Meaning of the word "be sold out" in English

What does "be sold out" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

be sold out

US /biː soʊld aʊt/
UK /biː səʊld aʊt/
"be sold out" picture

Idiom

to have all the available items or tickets purchased, so that none remain

Example:
I'm sorry, but the concert is sold out.
The new iPhone was sold out within minutes of its release.