An English Auction is a dynamic auction that ascends in price. It starts with the auctioneer announcing a suggested opening price/starting price or a reserve price for the particular item on sale. The auctioneer accepts higher bids (increase in increments) from the floor and, depending on the terms of the auction, sometimes accepts bids from external sources, for example telephonic bids by interested buyers. The auctioneer traditionally determines the bid increment, which increases as bidding reaches higher levels. The highest bidder (any given point during the auction) is said to have the standing bid, which can only be set aside by a higher bid from a rival bidder.
If there are no competing bidders left to challenge the highest bid in the time allotted for the auction, the current standing bid wins and the item is sold to the highest bidder.
If there are no bids at the starting price, the auctioneer will either lower the starting price at their discretion or allow bidders to offer a starting price. The item might not be sold at all if the reserve price set by the seller is not met, or the terms and conditions of the auction house are disregarded.
During an English auction, the public bidding process relays information to bidders in real-time, thus relaying a revenue advantage.