Not so much an Auction...

[Hessah]

buyout... so... a typical thread would look like:

[Picture of things they're selling]
S/O: 1g
M/I: 100s
B/O: 8g


S/O - Starting Offer... where you start bidding..

M/I - Minimum increment... you must go up by this amount from last offer (so if first person offer 1g, next person have to offer at least 1.1g)

B/O - Buyout... Instant win if you offer this price.

So often the auction will go for like 2 weeks or w/e (rediculously long) and its often sold to some random person that bought their item from their vending shop in game...