The event takes place in the Auction House mansion every night on Windfall Island. Before it begins, Zunari greets the contestants and then shows the item to be sold. After a few more words, he marks the start of the bids.
Zunari will allow 1 minute for the contestants to bid on the items. To make a bid, the "A" button must be repeatedly pressed so that an amount of Rupees is proposed to buy the product. This amount must be higher than the current bid. Making a bid 10% above the current bid will usually shock the crowd and prevent them from bidding for roughly 10 to 15 seconds.[clarification needed] Bidding more than 20% will shock them a few seconds longer.[verification needed] Gummy, a regular at the Auction, hints at this tactic. It can be used to ensure a winning bid towards the end of the auction. Bidding 999 Rupees will automatically win Link the auction as no more bids will be accepted.
The items offered for sale are Treasure Charts #18 and #38, a Piece of Heart and a Joy Pendant. Should any of these items be purchased by another of the townsfolk present, it will be returned and resold at the next auction (a major reason for this to happen is to avoid the item to be lost forever). Once Link has purchased these four items, nothing will be available and Zunari will comment on how someone has made off with every last auction item; meaning the auction will not run for the remainder of the game.
In The Wind Waker HD, a new item called the Swift Sail was added to the auction. When equipped, the King of Red Lions sails faster and the wind is always favorable.
The opening bids that Zunari sets for each of the items at the auction are as follows:
|Joy Pendant||40 Rupees|
|Piece of Heart||80 Rupees|
|Treasure Chart #18||Rupees5|
|Treasure Chart #38||60 Rupees|
|Swift Sail (TWWHD)||100 Rupees|
Gummy appears at every single auction, and is always the first to bid. The auction is also participated by a random five of the following townspeople:
- Tingle tried entering a drawing at the Windfall Auction but was turned away at the door, apparently for not following a dress code.
- "Notice: Windfall Auction Tonight! Bidding starts at dusk. All comers welcome!" — N/A (The Wind Waker)
- "By the way, it might interest you to know that I've been renting out the first floor of my home as a so-called auction house. Of course, the auctions are held in the evenings, after dark. Ho ho ho! Do I sense more than a little interest? Do you wish to join in as well?" — Mila's Father (The Wind Waker)
- "Once the auction begins, you must shrewdly tap repeatedly so you can earn the right to bid. Oh, the tapping! The excitement! Yes, yes, when you want to bid, tap ! As you do, your gauge will gradually build up. Once your gauge is full, your chance to bid has finally come! Oh, dear me, yes! Now, when you bid, you're naming the price you're willing to pay for the item. Let us just call it your chance to show off your wealth! Flaunt it, my dear!" — Zunari (The Wind Waker HD)
- "So, I guess the objective would be to raise it by 10%...or maybe even 20%?" — Gummy (The Wind Waker)
- "Ohhhhhhhh! This is incredible! I never thought it possible, but the bid has reached the ceiling for this item! No higher bids can be accepted! Dear me!" — Zunari (The Wind Waker)
- "My dear! Oh my dear me! As you no-doubt see, this is the item that <name> won in our last auction... ...And yet, for reasons I cannot fathom, <name> has since parted with this fine item, and thus it is once again appearing in our auction! But do not worry! This certainly does not mean the item is subpar. It just means that clearly this item is worth far more than the original amount it was purchased for! But just listen to me delay! Enough with the long-winded explanation... Let the auction begin!" — Zunari (The Wind Waker)
- "Dear me! I'm sorry to say it seems we won't be holding the auction for some time... It seems as if someone made off with every last auction item... Talk about a hit auction!" — Zunari (The Wind Waker)
- "East of there is Windfall Island. I tried to enter my best drawing in the Windfall Auction there. But I got rejected at the door! Why is there a dress code at an auction?" — Tingle (The Wind Waker)