Live Auctions are a commerce process in which goods and services (lots) are offered to a live audience for “bid” and the lot is sold to the highest bid. These lots, which may consist of one or more items, are assigned an opening bid and the auctioneer accepts bids in ascending order until the highest bid is reached. Because the bidders are required to be there, everyone in the audience knows who is bidding and how much – making the process transparent.
Although Live Auctions do not reach a worldwide market the way an online auction can, Handline’s Auctions does have an extensive base of buyers who may place proxy bids during live auctions. The auctioneer represents this buyer(s) at the live auction and announces the proxy bidder’s involvement at the time the bidding takes place. Proxy bidding is just one way that Handline’s Auctions can reach a larger audience during a live auction.