Machine auctions are events or platforms where used machines and equipment, such as CNC machines, fabrication equipment, and plastics machinery are bought and sold through a bidding process. During the auction, interested buyers place bids on the machines they wish to acquire. Bids are usually made in incremental amounts, with each new bid surpassing the previous one. The highest bidder at the end of the auction is declared the winner and is expected to complete the purchase by paying the agreed-upon price.