Live auctions are events where items are sold to the highest bidder in real-time. Participants can bid on various items, such as artwork, antiques, or collectibles, either in person or online. An auctioneer leads the event, calling out bids and encouraging participants to compete for the items. During a live auction, bidders raise their paddles or use online tools to place their bids. The auction continues until no one is willing to bid higher, at which point the item is sold to the highest bidder. This dynamic process creates excitement and competition among participants.