A forward auction is a type of auction where sellers offer goods or services to the highest bidder. In this process, multiple buyers compete by placing bids, and the item is sold to the person who offers the highest price. This format is commonly used for selling items like artwork, antiques, or real estate. In a forward auction, the auctioneer typically sets a starting price, and bidders can increase their offers until the auction ends. The auction can take place in person or online, with platforms like eBay facilitating these transactions. This method encourages competitive bidding, often resulting in higher sale prices.