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A lot of online auctions have an automatic timer that runs down after each new bid is submitted in a draft, which works well. But in live auctions it is ideal to have someone act as the auctioneer. If at all possible, choose a disinterested friend to act as the auctioneer instead of a league owner or commissioner. This keeps everyone on the straight and narrow. An impartial person will make certain that everyone's money is accounted for at all times, and keeps everything else fair too. You don't want your commissioner hesitating on the standard three-count sell every time he or she is personally interested in the outcome of the nominated player.