If the TV's original price was $500, at the auction, its price increased by 2/5*$500 = $<<2/5*500=200>>200
The total price at which the TV was sold at the auction is $500+$200 = $<<500+200=700>>700
The price of the phone also increased at the action, a 40% increase which is 40/100*$400 = $<<40/100*400=160>>160
The total price that the phone was sold for after the auction is $400+$160 = $<<400+160=560>>560
In total, the TV and the phone sold for $700+$560 = $<<700+560=1260>>1260 at the auction
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