Methods and apparatus for auctioning an item via a gaming device are disclosed. The methods and apparatus enable a gaming device player (e.g., a slot machine player) to select one or more auction items the player is interested in bidding on. As the player plays the gaming device, a portion of each bet and/or a portion of each win is allocated to an accumulating bid on the selected auction item(s). In one embodiment, other players, connected via a network, also bid on the auction item(s) in a similar fashion. At the end of an auction, the highest bidder is awarded with the auction item. In one embodiment, the auction item is a physical auction item physically displayed at the gaming device.