Meaning of the word "sold out" in English

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

sold out

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

Adjective

having all tickets or products completely sold

Example:
The concert was completely sold out within minutes.
The new smartphone model is already sold out everywhere.