How do you have an auction?

barraks

Fine Art auctions.

An auction is where a group of people are bidding on an item. As one person names a price, the next names one higher. Eventually they will reach a price that only one person is willing to pay. That...

The action of calling the highest monetary bid of purchase among other bidders for a specific item.

Yes. A reverse auction is different from a regular auction. The roles of the buyers and sellers are reversed. In a reverse auction, sellers are competing for business.