Auctions are types of events where buyers and sellers come together to bid on items. Auctions often involve an auctioneer – the person running the auction – and an audience of bidders. Auctions can be held in-person or online, and the items being auctioned off can range from art and antiques to real estate and luxury items. Auctions can be fast-paced, intense, and competitive, and the bidding process is often used to drive prices lower than what the items would typically cost. Online auctions are popular for shopping, as customers can often find great deals by bidding on items they are interested in.