Estate Sales Often Involve an Auctioneer Rattling Off Prices in an Effort

Estate sales often involve an auctioneer rattling off prices in an effort to get the highest price possible. Which of the following is true?

A) Because there is no chance to have the quantity supply increased in the moment the sale cannot reach the efficient point.
B) The sale does reach equilibrium because the only person desiring the item at the last price called gets it so no other trades could add to welfare.
C) If the auctioneer starts the bid too low and only one person wants the item, then efficiency is not reached.
D) Equilibrium properties are not relevant unless a larger market is involved.