Auction - The procedure(Any previous similar post?)

Anybody experienced in auction can share with me how property auction works?

My understanding towards property auction is very limited. I understand that we need to prepare the downpayment during the auction day itself and the successful bidder would need to pay the downpayment on the spot. And the auction is being carried at a premise advertised.

Instead of asking lots of questions which might not be relevant, I ask for the guidance from those who is experience in this matter to share.