Auctions are an innovative feature served to help distribute items for Raid loot. Three of the many items obtained from these Raids are randomly auctioned between the group. There's no more worrying about who got what when you can bid for it!
Loot Auctions are specifically used to distribute loot from Raids to the highest bidder.
You can view all items available from the Loot Auction here.
If a minimum of 5 people have participated in the Raid, the Loot Auction will begin.
Here you will be able to view the three items for sale [x]
the current item on auction [x]
the current bid, [x]
the current highest bidder [x]
and time left [x]
The 'Minimum Bid' menu allows you to configure the minimum bid amount and select 'Instant Bid' to make a pre-calculated Instant Bid.
The 'Custom Bid' menu allows you to make a custom bid and place it at any time.
No, this feature is exclusive to Raids.
If there's other items after, you can still participate in the auction.