How World of Warcraft Auction Houses Work?

I dont understand auction houses. I placed a bid for soemthing and it took my money but how do i know if i won it or not? It was a sword. If i didnt win the bid do i get my money back?

Also i just outbid a armer cloth. Does that mean i own it? I payed for it but i cant find it? I clicked on outbid for that one. at least i think it was called outbid.

 How World of Warcraft Auction Houses Work?


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