Auctions Galore!
A less-than-common affairs in fairs around the country are auctions. Auctions are just that, the usual bidding and all that pizazz. You could go for a dramatic auction, or you could go for a simple one. The main theme is players bid to buy something at prices that escalate by the minute, depending on how far the buyer's budget can stretch.
There are different themes that revolve around auctions, with most themes usually ranging from the esoteric (like very old antiques) to the more outlandish and the weird. If you want to join the auction, then a minimum of at least ten items of interest should be brought. These ten items should be varied and interesting enough to be able to tickle the interest of different groups of people. Auctions are that broad in their scope of stimulating the audience's fancy.
Auctions are just as costly as, even more than, setting up your booth. It is like walking on fire, you have to watch out where you step and hope that you don't get burned in the process. Failed auctions are both very unprofitable events, one that you hope you will never encounter, so make sure to prepare as much as possible. For advertising, media like flyers, posters, banners and signs are one way to attract attention (public auctions are a bit of a rarity nowadays). And make sure to prepare as much by visiting the site beforehand, setting everything up, and making sure that no hitches or delays are encountered during the event.
You could contract food stands and vendors to position themselves closer to your site so they could earn more audience and you can retain your own. This would put both parties in favorable positions. Prepare the things you'll need. Things like placards, the stand, a table for the item (if it's too big or heavy) and the sound equipment and all that stuff. Prepare if it rains if the fair is located outside.
Auctions are quite rare nowadays, which is the reason why most people would engage one when they do have a chance on their free time. Auctions are like gambling in itself. Sometimes, its all junk. Others, you find that rare item that you really need to buy. Circumstances shift a lot. Be prepared to try and take advantage of the situation. Otherwise, you could also steel yourself against losses. But if you are still that interested, then attend other people's auctions. Learn from them. Experience the feel of an auction being carried out by a veteran. The key is familiarizing yourself how to ride the wave generated by people's excitement.