live auction

A live auction is a public event where items or properties are sold to the highest bidder in real-time. An auctioneer facilitates the process, presenting each item and accepting bids from participants as they compete to offer the highest price. Bidders raise their paddles or signals to indicate their bids, and the item goes to the highest successful bidder once bidding concludes. This format encourages competitive bidding, often resulting in the seller obtaining the best possible price. Live auctions are common for artwork, collectibles, real estate, and estate sales, offering transparency and immediacy in the sales process.