Auctions are not all that complicated, once you get used to the idea. You may be most familiar with auctions through ebay or another shopping site. If you place a bid on an item, and no one else places a higher bid, you have won the auction. You will be expected to buy the item and pay for it. If you have an item in mind that you want to buy, and you bid on it, you'll have to wait to see if you have won the auction before bidding on another of the same item--or you may win them both and be expected to buy both of them.
One of the things people like about an auction is that you can't really spend more than you planned. If you bid on an item, for $5, say, and you lose, you didn't buy anything, and you don't owe anything.
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