Not all auctions follow the same format. Depending on the item, audience, and platform, auction houses use different models to sell works — from fast-paced live events to week-long online bidding. Understanding these formats helps you know what to expect, how to prepare, and how to participate effectively.
Live Auctions
Live auctions are the traditional format most people picture: an auctioneer standing at a rostrum, calling bids in real time. These sales typically take place in a physical location and may also allow for phone and online participation. Live auctions are scheduled for a specific date and time, with lots sold sequentially under the auctioneer’s control.
Bidding in live auctions can be competitive and theatrical, fuelled by audience energy and quick decision-making. They tend to feature higher-value lots and often include artwork, jewellery, design, and antiques. If you're bidding, you can do so in the room, over the phone with a representative, or online via live-streaming platforms.
Many auctions — both live and online — allow advance or absentee bids. These are bids submitted before the auction begins, authorising the auction house to bid on your behalf up to a set maximum. This option is useful if you can’t attend the auction in real time but still want a chance to win a lot.
Timed Auctions
Timed auctions are fully online and run over a set period, usually a few days to a week. There's no auctioneer, and bidders place their bids whenever they like within the time window. The highest bid when the clock runs out wins the lot.
These auctions are often used for lower to mid-value items or themed sales, though higher-value pieces can sometimes appear. Timed auctions are convenient for bidders in different time zones and allow for more deliberation, but they still require strategic timing: many bidders wait until the final minutes to place their offers.
However, timed auctions may extend automatically if a bid is placed in the final moments — a feature known as “anti-sniping” — to discourage last-second bids and ensure fair competition.
Online Auctions (Live-Streamed)
In this hybrid format, online bidders participate in a live auction via a digital platform. These are not timed sales; they’re real-time events with an auctioneer, but you join remotely via your screen. You see the bids as they happen and can click to participate just like someone raising a paddle in the room.
Online bidding has made auctions more accessible, particularly post-2020. Some auction houses now hold online-only live auctions, where there’s still an auctioneer, but no in-person audience.
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