I've only seen what auctions are like on TV and movies, so I'm sure it's a lot less glamorous than what it looks like. And if you have your heart set on buying something specific, I imagine it might even be a bit stressful.
Although an auction sounds exciting, I can see how it might be very easy to go over your budget when you're competing with someone else's bid. After all, if someone else wants the item, it just makes the object seem more valuable. Be it an auction for antiques, real estate, or charity — have you ever been to one?