Pennsylvania Auctioneer Practice Exam

The distinction between live auctions and online auctions primarily lies in the method in which bids are placed and the environment in which the auction takes place. Live auctions occur in person, allowing bidders to participate face-to-face in a physical location. This format facilitates immediate interaction, where bidders can see items, engage with auctioneers, and respond dynamically to the auction process.

In contrast, online auctions are conducted over the internet, enabling bidders to participate from anywhere without the need to be physically present. This setup includes various digital platforms that provide a virtual space for transactions, expanding the reach and accessibility for a broader audience.

While options regarding mobile bidding, bid increments, and popularity among younger participants address aspects of bidding mechanics or demographics, they do not define the fundamental differences between the two auction types in terms of their operational settings and bidder engagement. Thus, the key distinguishing feature is that live auctions are inherently in-person events, whereas online auctions are remote and digitally facilitated.