Auctions have been developed for economic transactions with asymmetric information
and they are the simplest means of price determination for multilateral trading without
market makers. During the last years, new technologies gave a boost to the
development and usage of innovative auction formats in several fields. We explore
some of the new possibilities of applications and explain the differences to traditional
auction formats. Furthermore, we demonstrate the potentialities of auctions concerning
information gaining for the auctioneer as well as for the participating bidders.