This is a self-running online auction that is carried out within a specified period without an auctioneer. As a bidder, you can place your highest bid within this period, which the software takes into account step-by-step in the specified bidding steps. At the end of the auction, the highest bidder automatically wins the bid. (like on Ebay)
If a bid is made in the last 60 seconds, the lot will automatically be extended by 120 seconds. This process can be repeated several times so that the real hammer time can differ significantly from the forecast hammer time.
Herr René Waldrab