No, it's not an auction targetted at a specific community, but rather an event which includes elements of a raffle and an auction, where participants buy chances to win auction prizes.
Participants can increase their odds of winning by buying several chances on a item.
When all the chances are sold, the prize wheel is spun to reveal the winner of the item. According to event organizer Heather Asiala , the event is a refreshing change from ordinary auctions or raffles. Placing a value on the prizes and then selling chances on them also helps to set a definite financial goal because each prize has an assigned value and is not simply bid on that evening. Although some prizes may sell for less than they might have been auctioned for in a live auction, or traditional silent auction, Asiala notes that Chinese auctions often allow a broader base of participation. Others will just buy a chance or two on everything.