Most people are very familiar with eBay and the type of auctions they run on their website. It is a place where many search for deals on items they want to acquire for their home or for gifts for others. When some speak of bidding on live auctions online they are referring to eBay. There are however, a few differences between an eBay auction and bid online live auction.
Don’t get me wrong, there are similarities between the two. For example, both types of events have bidders, start times and end times. They both allow for you to place maximum bids on items. You can view detailed pictures of items and descriptions online from the comfort of your home.
The true difference between a live bid online auction and an eBay auction is the excitement that happens between the start silent auction ideas time and the end time of these events.
In a live bid online auction, there is a set time for which an auction takes place – which is usually a couple of hours long and consists of many hundreds of items. With an eBay auction, there is one item that is up for auction for days or weeks at a time. So, as you can see, the excitement level and pace of a live bid online auctions is much more exciting. You have a few seconds to bid on the item you want versus days or weeks.
With a live bid online auction, you are bidding against online bidders (just like eBay) – however, you are also bidding against people who are actually participating at the physical auction site as well. This is an added dynamic to the auction that can allow for some pretty fierce competition.
One other difference between the two types of auctions is whom you are purchasing your items from. Most live bid online auctions are hosted by auction houses that have been in business for many years and are conducted by professional, licensed auctioneers. With eBay auctions, you are bidding on items that are usually being sold by the general public with no requirements to hold an auctioneer license.