Editing Auction (section)

====Driven by bidders only====
[[File:Auction.jpg|thumb|upright=1.5|An auctioneer and assistants scan the crowd for bidders.]]
* [[English auction]], also known as an ''open ascending price auction''. This type of auction is arguably the most common form of auction in use today.<ref name="#Krishna2002|Krishna, 2002: p2" /> Participants bid openly against one another, with each subsequent bid required to be higher than the previous bid.<ref name="McAfee"/> An auctioneer may announce prices, bidders may call out their bids themselves (or have a proxy call out a bid on their behalf), or bids may be submitted electronically with the highest current bid publicly displayed.<ref name="McAfee" /> In some cases a maximum bid might be left with the auctioneer, who may bid on behalf of the bidder according to the bidder's instructions.<ref name="McAfee" /> The auction ends when no participant is willing to bid further, at which point the highest bidder pays their bid.<ref name="McAfee" /> Alternatively, if the seller has set a minimum sale price in advance (the 'reserve' price) and the final bid does not reach that price the item will remain unsold.<ref name="McAfee" /> Sometimes the auctioneer sets a minimum amount, sometimes known as a bidding increment, by which the next bid must exceed the current highest bid.<ref name="McAfee" /> The most significant distinguishing factor of this auction type is that the current highest bid is always available to potential bidders,<ref name="McAfee" /> although at that time there may be higher absentee bids held by the auctioneer which are not known to potential bidders. The English auction is commonly used for selling goods, most prominently antiques and artwork,<ref name="McAfee" /> but also secondhand goods and [[real estate]].
* [[Auction by the candle]]. A type of auction, used in England for selling ships, in which the highest bid laid on the table wins after a burning candle goes out.
* [[English auction#Scottish auction|Scottish auction]] is an auction where all bidding should be completed within a certain time interval, which allows bidders an appropriate amount of time for consideration and avoids precipitate actions.<ref>{{cite book |last1=Hultmark |first1=Christina |last2=Ramberg |first2=Christina |last3=Kuner |first3=Christopher |title=Internet Marketplaces: The Law of Auctions and Exchanges Online |year=2002 |publisher=Oxford University Press |isbn=978-0-19-925429-3 |url=https://books.google.com/books?id=XlNoeBNcZ80C&pg=PA39 |access-date=29 August 2020 |language=en}}</ref>