You may have been to a traditional auction where a fast-talking auctioneer calls out bids while buyers raise their paddles to secure their price. Traditional auctions offer many advantages, but online auctions are becoming a more popular option. It is important to understand how traditional auctions and online auctions are managed, because there are some key disadvantages and benefits for both types.

Always wanted to participate in the live action of an auction, but aren’t sure what to sell? Start by assessing your belongings and keepsakes. Determine which items may garner high bids, netting you a profit and cleaning out your garage or storage space at the same time. Some popular ideas for live auction items include antiques, artwork, jewelry, equipment, and real estate.