An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then buying the item to the highest bidder. The open ascending price auction is arguably the most common form of auction in use today.

There are many types of auctions.? Some of the most common are Charity, Estate, Liquidation, Consignment, Auto mobile, Antiques, Coins, Storage units, Foreclosures, real estate, and many more.