What is live bidding work?
Live bidding is a process used in auctions where participants place real-time bids on items being sold. It typically occurs in physical auction houses or online platforms, allowing bidders to compete for an item by offering higher amounts until no further bids are placed. The auctioneer manages the bidding process, announcing the current highest bid and prompting participants to place new bids. In live auctions, bidders must register beforehand and follow the auction rules. The highest bidder wins the item once bidding closes.