The person whose hand is up at the end is

举手到最后的那个人
the person whose intended bid is the highest.

那个有意愿出最高价的人
But what amount do they pay?

但是他们支付多少钱呢
When does the auction stop?

什么时候拍卖停止呢
It stops when the second to last hand goes down.

停止于倒数第二个人的手放下的时候
So if I'm the winning bid in an open ascending auction my hand is still up.

所以若要赢得公开增价拍卖我的手要一直举着
You don't know what I was wiling to pay.

你们不知道我将要支付多少钱
What I'm actually going to pay is

我要支付的价格是
the price of the last person whose hand went down.

最后一个放下手的人出的价格
I'm going to pay the bid of the person

我要支付他所出的价格
whose amount that they were going to pay is the second highest amount.

支付第二高出价
Does that make sense?

这样有意义么