ELI5: Explain Like I'm 5

Calcutta auction

Calcutta Auction is like a game or contest. Each person can buy a chance to win a prize. Everyone puts in money and then when the contest is over, the person with the most money or highest bid wins the prize. For example, if there are 5 people playing and one of them has the highest bid of $20, then that person wins the prize. It's a fun way to decide who gets the prize!