Transparency is a vital condition for successfully running an auction, as participants need to be sure that any manipulation is ruled out. Transparency can be achieved thanks to blockchain, which facilitates immutability of data for all bids and the time at which they were made.
To create an auction for WAVES, you can use the repository https://github.com/IgorShadurin/waves-auction. In this demo version, you can transfer any tokens based on WAVES, set the minimum bid price, limit the duration of the auction.
After creating an auction, your lot appears on the main page of the site and users can bargain and redeem your lot at the highest price. Once the auction is completed, the winner can pick up their tokens by paying their bid.
Waves smart contracts allow absolutely transparently buy/sell/bid. The seller can be convinced that until the end of the auction his tokens will not disappear anywhere, and buyer can be convinced that he will receive his lot.