This auction type helps control the competition! There is a limited amount of seats and bids in these auctions. You must reserve a seat to participate in this auction type. Once you reserve your seat the set amount of bids will be withdrawn from your account to be used once the auction starts. Prior to the auction beginning, if you decide you no longer want to participate, you can click the ‘Stand’ button and you will be withdrawn from the auction and your bids will be refunded. Once the last seat is filled, the auction will be locked and will countdown until the designated start time. After the auction is locked you cannot withdraw from it.

http://screencast.com/t/lzVj2YwOSs4z