Students were split into groups and each group was given the auction handout. First my students spent 10-15 minutes deciding with their groups which statements were true and which were false. I also encouraged them to decide in advance how much they were willing to spend on a single statement. I reminded them to make these decisions quietly so that they didn't tip off any of the groups around them.
When it was time to begin the auction, I reminded students that they only wanted to bid on the true statements. They asked what happens if they win false statements. In the past, I've said that it counts against them, but this year I told them that all it really meant was that they had less money to buy true statements.
The opening bid for each statement was fifty dollars and each subsequent bid had to raise the previous by $50 increments. Each group recorded the statements they won and how much money they spent on the bottom of the auction handout. One thing I have learned after doing several auctions with my classes is that students are much better at keeping track of the statements they win and how much money they have if I give them fake money to play with. If you hold an auction review with your students, I highly recommend giving each group fake money to use! I use money I created with the name of my school and our school mascot on it, but I also created generic money featuring famous mathematicians.
Two of my classes really enjoyed this activity. Although I had to remind them often that it was a silent auction, they quieted down so that we could review each statement after it was won. One of my classes got too excited by this activity. They continued to talk during the bidding and when I tried to review statements after each was auctioned off. In anticipation of this, I had an independent activity copied and ready to go. After some warnings and three strikes, I stopped the activity after auctioning off only two statements. Groups had to return their money and paddle and students worked silently and independently for the rest of class.
Although I was disappointed we didn't get to finish the auction in that one class, I was pretty proud of myself for sticking with the three strikes and packing up the activity when students didn't follow my directions. They couldn't stop talking during the auction, but they knew I was serious when we packed up and they worked silently for the rest of class. Slowly but surely I am making progress with classroom management.
View/Download: Real Numbers Auction Handout and Auction Money
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