What Solax said, but I'll give you an example.
I'm selling Umm... let's say, a head texture item in the market section.
I make a new thread, the thread name should start with [A] which stands for Auction., and contain the name of the item I'm auctioning.
Example:
[A]128x128 Head Texture item.
What should I put in the thread?
-The name
-The starting bid
This is the lowest you can bid on the item.
-The autobuy [Not necessarily]
If you post "Autobuy" in the thread, it means you're going to pay this price, and then the thread will be closed, and the item will be sent to you [ in exchange for the money, that is]
-The end date of the auction.
for example, 24 hours after the last bid.
Let's say you're interested in that headtexture, and you want to buy it.
Then you post in my thread, something like, "20k" if the minimum bid is 20k.
Then someone else can post in the thread, saying "21k".
Someone else can post 25k, and so on, so forth.