A private auction is a type of auction where the bidding process is restricted to a select group of individuals or organizations, rather than being open to the general public. This exclusive format allows for a more personalized and discreet buying and selling experience, often resulting in higher prices and greater confidentiality. Private auctions are commonly used for high-value items, such as rare collectibles, luxury goods, and real estate properties. They offer a level of privacy and control that is not typically found in traditional auctions, making them a preferred choice for those seeking a more exclusive and tailored approach to buying and selling.