Two thirds of fantasy baseball teams particpate in a snake draft. The rest enjoy auction drafts. There are not a lot of differences. Both have a couple handfuls or so of baseball enthusiasts armed with lists of players sorted by positions. Many of those enthusiasts also have sheets with the other teams rosters on them to be filled-in as players are acquired. At least one owner forgets a pencil or pen, their fantasy guide and/or something to write on. And there is always at least one owner who has extra copies of his things to provide for those owners in need.
The big difference between the two types of drafts is the auctioneering function. In a snake draft, the draft order is predetermined and moves in an orderly fashion from best-to-worst/worst-to-first. Each team gets one pick per round and must watch players they would select next get picked before their turn comes back.
An auction draft is different. Each team has the ability to grab the best players they can whenever they are brought-up for bid. This means you can have Albert Pujols, Grady Sizemore and Jose Reyes with your first three selections if you want and if you have the means. In your typical snake draft, this is impossible.
Related to the bid is who actually calls out the going-going-gone function. Some leagues are fortunate to have a non-league participant do this on a a voluntary or on a paid basis. I don't use an auctioneer in my leagues. With just a little social pressure, each owner can step into the role when the bidding involves a player that an owner doesn't want.
Are there any other differences between snake drafts and auction drafts?