I am wondering, when a bidding period expires, what actually happens with the domain. Does the price go up, does a new bid start, does the price drop to a constant, or what?
It really depends on the type of auction. If it was an expired listing auction, the domain will go back to the registry if no one bid on it. If it was listed by a private owner, then they have the choice to set up a new auction if no one bid on the domain.