Live auctions are real-time sales led by an auctioneer, where bids are acknowledged and accepted as each lot is offered. They can take place in a physical auction room, online, or across both at the same time. This page explains what a live auction is, how simulcast and webcast participation fit into the format, and which governance rules matter when bids are being taken and approved in real time.
A live auction is a real-time sale led by an auctioneer, where bidders compete as the lot is offered and the sale is concluded when the auctioneer accepts the final bid.
It is used where the pace of bidding, bid acknowledgement, and lot closure are controlled in real time rather than by a pre-set platform countdown.
A simulcast auction is a live auction where bidding takes place across both the physical auction room and online at the same time.
It allows online bidders to compete alongside bidders in the room, helping operators extend participation without separating the live sale into different events.
A webcast auction is a live auction that is broadcast online so remote bidders can watch the sale and, where enabled, bid as it happens.
The term is often used for auctioneer-led events that are streamed online, especially where remote participation forms part of the live sale environment.
Clerking is the process of recording bids, tracking bidding activity, and supporting the administration of the sale while the auction is taking place.
In live auctions, clerking helps ensure that bids are captured accurately across different channels and that the sale progresses with clear operational oversight.
Absentee bidding is a way for a bidder to leave instructions or a maximum bid in advance when they cannot participate live during the sale.
It allows bidders to take part without being present at the event, while still enabling the operator to represent their bidding interest during the auction.
In a live sale, room, phone, absentee, and online bids are combined into one bidding process managed under the authority of the auctioneer and sale team.
This matters because live auctions often involve more than one route to participation, and bidders need confidence that all channels are being handled consistently and fairly within the same sale.
A live auction has an auctioneer setting the pace of bidding in real time. An online-only auction does not rely on an auctioneer calling each bid; the bidding window and lot close logic are defined by the platform.
This distinction matters because users often confuse online participation with online-only auction structure. A live auction can still accept online bids, but the pace and close remain under auctioneer control.
In a live auction, all bids are brought into one competitive sequence. The clerk records and relays bids from the room, telephone, absentee instructions, and online channels, while the auctioneer acknowledges the current bid and controls the sale.
The key issue is not only where bids come from, but how they are combined into a single bidding process that remains clear, fair, and authoritative throughout the sale.
The most important governance issues in a live auction are who has authority to accept a bid, how competing channels are prioritised, what happens if technology lags, and when the lot is legally treated as sold.
Live auctions require clear authority lines, visible bid acknowledgement, reserve handling, and terms that define when the hammer falls, whose acknowledgement prevails, and how disputes are handled.
