You can do both! You have full control over your auction.
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You can add items at any time. In fact, some organizations open up an Auction early, then add new items each week as a way to keep driving traffic and building excitement.
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As far as editing goes, you may tweak the images or copy at any time. If you need to make changes to the item that would impact its value to a bidder, please make those changes before the item receives any bids.
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To hide or delete an item, you have two options. You can click the 'eye' icon, which will hide the item and make it no longer visible to the public. Or you can click the trash can icon, which will delete the item.

If an item already has bids, deleting the item will stop it from being processed at the end. We would recommend doing this only in rare occasions (such as having a gift-card as an item and the business no longer exists), and always in communication with the bidder. Clearly, if the item has no bids, it can also be removed or hidden seamlessly without any effect on the Auction or anyone that has participated.