ELI5: Explain Like I'm 5

Auto auction

Auto auction is like a big market where people buy and sell cars. Imagine it's like a giant toy store, but instead of toys, there are cars!

Some people have cars they no longer want or need, and they take them to the auction to sell them. Other people go to the auction to buy a car.

Before the auction, people can look at the cars to see which ones they like. They can open the car doors, look under the hood, and even sit in the car to see how it feels.

When the auction starts, a person called an auctioneer stands in front of the crowd and talks very fast. They tell everyone which car is being sold and start the bidding by saying a price.

Then, people in the audience raise their hands or shout out higher prices if they want to buy the car. The auctioneer will keep increasing the price until only one person is left, and they get to buy the car.

Sometimes, the cars are sold for a lot less than they are worth, so people can get a great deal!

Overall, an auto auction is just like a big toy store for cars, where people can go to sell or buy cars they like, and bidding helps decide which person gets to buy the car.
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