The auction channel is primarily to be used by GM Decius to hold Myzan Land Rush auctions, although at times when no auction is running you are more than welcome to try to use the channel to hold a live auction on something.
When GM Decius is holding a live auction you can use the following command to bid on the auction:
/b amount
This means to bid 10USD type /b 10, all numbers entered are assumed to be in ISD.
The bidding system will record your account information, when no more bids are forthcoming the auction will end and the winning bidder will be announced.
You can only bid higher amounts than the current bid!