"Preschool Auction" originally aired on NBC in the United States on February 2, 2012.[1] The episode was viewed by an estimated 3.70 million viewers and received a 1.8 rating/5% share among adults between the ages of 18 and 49.[7] This means that it was seen by 1.8% of all 18- to 49-year-olds, and 5% of all 18- to 49-year-olds watching television at the time of the broadcast. This marked a 5 percent drop in the ratings from the previous episode, "Rivals".[7][8] The episode finished fourth in its time slot, being beaten by Grey's Anatomy which received a 3.6 rating/9% share in the 18–49 demographic, the CBS drama Person of Interest which received a 3.3 rating/9% share and the Fox drama series The Finder which received a 2.4 rating/6% share.[7] The episode, however, did manage to beat the CW drama series The Secret Circle.[7] Added with DVR viewers, who viewed the episode within seven days of the original broadcast, the episode received a 2.8 rating in the 18–49 demographic, adding a 1.0 rating to the original viewership.[9]
"Preschool Auction" received positive reviews from critics. Adam Victavage of Paste reacted very positively towards the episode and compared Ava, Missy and Reagen to the female leads of Friends and 30 Rock character Liz Lemon calling the three "fresh additions to sitcom lineage".[10] He called Winter's appearance "pleasant" and compared his character to Arnett's character on the series Arrested Development, GOB Bluth.[10] He concluded that if the series was to continue its rise in quality, it could possibly receive award consideration "next time around".[10] He ultimately gave the episode an 8.8/10 calling it "commendable".[10] The A.V. Club reviewer Margaret Eby wrote that the episode restored her "faith" in the series following its move behind The Office and the two "lackluster" episodes.[11] She also noted that the episode was both "funny and sweet" and was able to have a good balance between the two.[11] She later on praised Winter's guest appearance and she called the Casey-Chris plot "fresh and sharp".[11] She ultimately gave the episode an A.[11]