Auctioning

Auctioning is a process where items or services are sold to the highest bidder through a competitive bidding process. Participants openly submit offers, often within a specified time, and the item goes to the person willing to pay the most. It’s commonly used for selling art, real estate, or goods that may have fluctuating value. Auctions can be live, online, or silent, providing a transparent and efficient way for sellers to discover the market value of their items while buyers compete for the best deal.