Auction: a public sale in which goods or property are sold to the highest bidder.
Bidding: an offer (often competitive) of setting a price one is willing to pay for something. A price offer is called a bid.

How It Works: An Auction is where property is sold at a specific time and place to the highest bidder. When an item you want goes up for bid it will usually start low and the auctioneer will raise the bid amount every time someone bids until there are no more bids on that item at which time they will sell the item for the highest bid.

For Japanese car auctions you have only 1 chance to win.
If you are not too serious, don't care if you lose, and can live without the car; place whatever small bet you want. Win or lose you dont care, you will be fine.
If it's a car you really love and don't want to lose it, you should place a legitimate bid, the highest you can afford and willing to spend.

Back to the famous question - "What's the Price?"
Short Answer: Will tell you the price when the auction is over, which by that time would be too late!!

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