The auction/bidding game mechanic involves the players to place a bid, usually monetary, on an item in an auction of goods. Players take turns placing bids on the given item, increasing the amount of the bid, until all but one player concedes and the one player who placed the largest bid emerges the victor. The winner of the bid gains ownership of the item and play continues. Most games require the price of the item being bid to drop if no one plans to bid on the item at its current price.
Monopoly is the most famous board game to use the auction/bidding mechanic. If a player lands on a space that’s not owned by anyone and they choose not to purchase the property on the spot, the property goes up for auction.