Work flow for auction items

This post goes out to all users of the Ubercart Auction module --

I am trying to put together a flow chart for the life cycle of an auction item, and am interested in hearing what others are doing, or if I'm missing out on a cool Drupal feature that would make life easier.

Currently, this is what the life cycle looks like on our site:

Item created by Admin and place in appropriate auction category --> Item now up for bid --> Once the bidding period ends, item is recategorized as "Expired Auction" so that the winner bidder can still see it in their account

Is there a more appropriate thing to do with auction items after the bid period ends?