What defines a 'live auction'?

A 'live auction' is characterized by bidders being physically present in a designated location where the auctioneer calls out bids and interacts with the participants in real-time. This dynamic environment allows for immediate bidding, often involving verbal exchanges and raising paddles or cards to indicate the willingness to bid. The energetic atmosphere of a live auction fosters competition among bidders, making it a distinctive format compared to other types of auctions.

In contrast, an auction conducted entirely online lacks the physical presence of participants and does not involve live bidding by an auctioneer. Written bids or silent auction formats do not incorporate the same interactive experience found in live auctions. Therefore, the defining feature of a live auction is the active participation of bidders in a shared space, creating an engaging and competitive bidding scenario.