Depends on the type of auction. In a Vickrey [1] auction you bid to the point of indifference but pay the second highest bid, that way you potentially capture s

Depends on the type of auction. In a Vickrey [1] auction you bid to the point of indifference but pay the second highest bid, that way you potentially capture some utility surplus. [1] I said "Dutch" but apparently that technically refers to something else.