Radio waves are of course produced by people. The laws of nature aren't, but that's not what's being sold. The auction would be particular frequencies over a particular area. Man invented these frequencies as much as we invented any cut of stone.
How would anyone have gotten to be a legitimate owner, under your principle? Should any new resource not be appropriated? All that is happening is people are deciding to release the use of a particular wavelength over their land, in order that it be used at all.
The guarantee would be the same guarantee that anything gets to benefit anyone. Nothing is different in this case. Do dairy farmers make milk for people in Seattle because they love the people in Seattle?
Government tends to create things when they have a competitive need to create something. In the case of long range communications, they were competing against other militaries. How will the government innovate with regard to the domestic market?
The reason that you'd think privatization would make things improve is by looking at a history book. Invention tends to come from the desire to make money. The desire to have more tends to force people to create desirable things.
For ships and airplanes, traffic is only a problem at ports. And an employee of a company can surely manage those signals. No different are the appropriations of who will handle any other kind of signal. If someone has built an undersea line in the path of your planned line, such that it hopelessly blocks yours, surely you'd wish the option to buy the line rights was available.
Price fixing schemes never seem to last. Each of the members would gain by under-bidding his associates, as long as his place in the market is not secured by a license (which could be threatened by cronyism). The only thing that keeps competition from occurring is a government intervention keeping the barrier to entry out.
As I've just written, a competitive market would be much better than one planned by friends of the government.
People tend to ask "which singular, central plan should we implement?" It's like the question "which God created the universe?"