Sentence:  <WSD>Auctions</WSD> come in a wide variety. In a “Dutch <WSD>auction</WSD>”, often used to sell flowers and fruit, prices start high and gradually drop until a bidder is willing to pay up. A “Japanese <WSD>auction</WSD>” is a bit like poker: bids rise with each round and anyone who wants to win must bid every time. Vendors using <WSD>auctions</WSD> rid themselves of the headache of choosing prices and instead just pick the rules bidders must follow. 
Meaning of the word marked with <WSD> tags:  A public event where goods or property are sold to the highest bidder.