A live auction is a public sale where items are sold to the highest bidder in real-time. Participants raise their bids in person or online, competing against each other for items such as art, antiques, or collectibles. The auctioneer facilitates the process, announcing bids and encouraging participants to increase their offers. These events can take place in various settings, including galleries, auction houses, or online platforms. Live auctions often create an exciting atmosphere, as bidders engage directly with one another. Popular auction houses like Sotheby's and Christie's frequently host live auctions, attracting collectors and enthusiasts from around the world.