There is a tradeoff between profit and the frequency of winning. In this type of auction, the optimal strategy is to bid one's value. Dutch auction - auctioneer calls out prices beginning with a very high value and gradually reduces it. The first bidder to accept the price called wins. English auction - auctioneer begins with a low price.
Bidders raise their bids until nobody is willing to bid higher.
The optimal strategy in an English auction is to bid up to one's value, staying in the auction until the bids exceed one's value. In a sealed-bid auction, one has a tendency to win when one bids more than one's value. In an open-auction, the winner's curse is less pronounced because information from other bidders helps one to value it. One's strategy depends on whether other bidders are simply bidding their value or are shading their bids. One can evaluate potential strategies using deviation logic.