Auction

An auction is a public sale where goods or property are sold to the highest bidder. Participants place bids, which are offers of money they are willing to pay. The auctioneer, often a person in charge of the event, regulates the process and announces the highest bid. Auctions can be for various items, including art, antiques, real estate, or even livestock. They can take place in person or online. The excitement comes from the competitive nature, as bidders try to outbid each other until the auction ends, and the highest bid wins the item.