Timed Online Auction vs Live Auction: Which Is Right for You?

How does a timed online auction work?

A timed auction opens lots for bidding over several days. You browse, research and bid whenever it suits you, often with a max bid that bids for you while you're at work or asleep. Lots close one after another on a schedule, often a short gap apart, rather than all at once.

Most timed auctions use a soft close: a bid in a lot's final minutes resets its clock, so the ending works like a short live round. On Auktia, every auction is timed and online, with a live clock that ticks every second, and the seller (auction house) sets the extended-bidding (soft close) window at 1, 2, 3 or 5 minutes.

How does a live auction work?

In a live auction, an auctioneer calls each lot at a set time, takes bids from the room, the phone or online, and closes the lot with the hammer, often within a minute. Bidders need to be present, on the phone or watching the webcast when their lot comes up.

Many live sales also take absentee bids in advance and offer webcast bidding through online platforms. The energy of the room is part of the format: decisions happen fast, and the auctioneer sets the pace.

What's the difference between timed and live auctions?

Both formats sell the same kinds of things, from furniture to farm equipment. The difference is how much time and attention each one asks of you.

• Timing: timed runs for days; live happens in one session.
• Pace: timed gives you time to research every lot; live gives you seconds per lot.
• How bidding ends: timed lots close on a clock with a soft close; live lots end when the auctioneer drops the hammer.
• Where you bid: timed is online from anywhere; live is in the room, on the phone or by webcast.
• Max bids: standard in timed auctions; offered as absentee bids at many live sales.
• Inspection: both usually offer a preview; live sales put you in the room with the items.

Which kind of auction gets better prices?

Neither wins every time. Live sales create urgency and competition in the room, which can push prices up on popular lots. Timed sales give every bidder time to research, which can sharpen prices on obvious winners while lesser-known lots slip through cheaply.

For bidders, the bigger factor is discipline. A timed auction makes it easy to decide your limit calmly, enter it and walk away. In a live room, it's easier to get caught up in the moment. Either way, compare the all-in price, not the hammer: a $100 lot with a 15% premium and 8.25% tax costs $124.49 in either format.

What are the pros and cons for bidders?

Pick the format that fits your schedule and how you like to make decisions. Many regular buyers use both, depending on the sale, the item and how much time they have that week.

• Timed pros: bid anytime, research every lot, max bids work while you're busy, no travel until pickup.
• Timed cons: dozens of lots can close over an hour, and it's still possible to overbid in the soft close.
• Live pros: see and handle items, fast results, and the whole sale finishes in one session.
• Live cons: you must be there or online at the right moment, and the pace leaves little time to think.