I have just installed Magento (latest version) and looking for a nice auction extension which is free and has a large following.
Variably Price Bidding Extension might work for you. It might be a solution.
But if you're looking for the 'classic' auction functionality - there are mostly only paid versions, if you're looking for something that actually works:
http://www.magestore.com/magento-auction-extension.html
https://www.fmeaddons.com/magento/auction-extension.html
Hi mate,
Based on my experience, I'd like to recommend Magento 2 Auction Extension from Landofcoder team.
This extension supports admin in equipping the auction feature for your e-commerce store. Joining in an Auction Online or Traditional for the product and service like on eBay and Amazon auction, the buyer can bid on those products to increase potential product competition.
I am totally satisfied with it, a lot of utilities, plugins everything is perfect and works well on my site.
It's not a free extension but believe me, you will get what you pay for.
Hope this is helpful!