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Once the production phase comes to a close, the auction phase can begin. Auctions occur in a specific sequence every time. They proceed as follows:
Buyers start at the bottom, and sellers start at the top. If the store has stock to sell, a sell line will appear just below the seller, indicating how much the store will sell it's stock for. You are also informed, before the auction, how much stock the store has available. Just above the sellers is the line indicating the minimum price that the store will purchase goods for. Players can not buy or sell stock lower than the price indicated by the store.
Once the auction begins, buyers must move up to at least the store purchase line (if it is still visible) in order to purchase. Sellers must move down to at least the store sell line (if it exists) in order to sell. The buyer who is highest sets the buy price line. The seller who is lowest sets the sell price line. When two players cause the buy and sell line to meet, a deal is made and the transfer of goods for a set price begins. Either player can end the transaction at any time. When transactions are occurring, the auction timer bar freezes.
If the store has no stock of a particular item, then (provided you are not in Beginner mode) a buyer may continue to raise the purchase price of an item as high as he or she would like, provided the player has sufficient funds for a single transaction at that price, and there is enough auction time remaining. When this is the case, the sellers may wait at the top until the buyer has reached a price that a seller agrees to sell at. Then the seller must step down to meet the player's buy line to commence the transaction. Especially greedy players will want to wait until very little time is left before stepping down to meet the buyer.
When the auction is complete, the round is officially over. The next screen that you see is the summary status of all of the players, breaking down how much wealth they have attained according to money, land, and goods. The order that the players are presented on this screen indicate the order that the turns will be taken from top to bottom.
The Colony Summary score is also displayed at the bottom, equaling the sum of all of the players' wealth. If the colony is suffering from a shortage of a particular commodity, you will be notified of it on this screen, through a message that scrolls across the bottom of the screen. That presence of that message means it may be a good time to produce that commodity as the prices are likely to be high.
After the auction on round 12 (round 6 for Beginner mode), the final Status Summary screen is shown, declaring the winner of the game, and informing you of the colony's general success, or lack there of. After the transport ship comes to pick you up, there's is nothing more that you can do besides switch back and forth between the summary screen and the plot breakdown, and listen to the groovy M.U.L.E. theme song.