An auction conducted entirely or partially through an internet platform, where bidders participate remotely via web browser or mobile app. Can be timed (bidding opens and closes at set times) or live (simulcast alongside in-person bidding).
How It Works in Practice
Online auctions have transformed the estate auction industry by extending buyer pools from local drive-up attendance to national and international reach. The shift to online accelerated dramatically during 2020 and never reversed. For auctioneers, online sales require more upfront cataloging work (every lot needs photos and descriptions visible on screen) but typically generate higher total revenue through increased competition. Major platforms include HiBid, LiveAuctioneers, Proxibid, and AuctionZip.
Frequently Asked Questions
What platform is best for online auctions?
How do I set up an online auction?
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