A method and apparatus are provided for conducting a live auction that
combines various features of traditional and online auctions. According
to one aspect of the present invention, the live auction includes a live,
in-person auction component and a real-time online bidding environment
component. Bidding information associated with an item in the online
bidding environment is updated to reflect a current bid associated with
the item in the live, in-person auction. During the live, in-person
auction, a bid is be accepted from an online bidder in the online
environment that reflects the online bidder's bid price for the item.
Subsequently, the system bids on behalf of the online bidder against
other online bidders as well as one or more live bidders that are
participating in the live, in-person. As such, the live auction enables
real-time online bidding in a live, in-person auction.