Live auctions are real-time sales led by an auctioneer, where bids are acknowledged and accepted as each lot is offered. They can take place in a physical auction room, online, or across both at the same time. This page explains what a live auction is, how webcast and room bidding fit into the format, and which governance rules matter when bids are being taken and approved in real time.
At iRostrum, a live auction is a real-time sale led by an auctioneer, supported by a clerk, where bidders compete as the lot is offered and the sale is concluded when the auctioneer accepts the final bid.
This matches mainstream auction-house usage. Christie’s describes live auctions as real-time sales led by an auctioneer, with bids accepted in person, by phone, in advance, or online during the sale. iRostrum’s difference is the emphasis on the operational roles around the event: auctioneer, clerk, auctioneer view, and online bidder experience.
At iRostrum, a webcast auction is a live auction that is broadcast online so remote bidders can watch and bid against activity taking place in the sale.
In the wider market, “webcast”, “live-streamed”, and “broadcast” auctions are often used for the same idea: a live auctioneer-led event that is transmitted online. RICS describes live-streamed or broadcast auctions as auctions where the auctioneer is physically present on the rostrum and the event is broadcast online. For search purposes, this page should make clear that webcast auction is closely related to live auction, not a separate buying logic.
A live auction has an auctioneer setting the pace of bidding in real time. An online-only auction does not rely on an auctioneer calling each bid; the bidding window and lot close logic are defined by the platform.
This distinction matters because users often confuse “online bidding” with “online-only auction”. A live auction can still accept online bids. What changes is who controls pace and closure: the auctioneer in a live sale, or the platform rules in an online-only timed sale.
Bids can come from the room, from absentee instructions, by telephone, and from online bidders. The clerk records and relays bids while the auctioneer acknowledges the current bid and controls the increments and final call.
From a governance perspective, the important issue is not only where bids come from, but how they are normalised into a single bidding sequence. iRostrum should explain that the live auction is one competitive stream, even when bids enter through multiple channels.
