Abstract: A system for the hosting of a combined auction, with live bidders in physical presence at the auction site as well as online bidders being able to view the auction and bid over the Internet. Auction and bid processing are centralized on a central control system. A remote module is used at the actual physical site of the auction and provides site data to the central control system for handling and distribution to bidders. The technical requirements at the actual auction site are minimized by the centralization of the majority of auction processing, and high-speed network connectivity requirements between the auction site and the central processing system are minimized.

Abstract: A system for the hosting of a combined auction, with live bidders in physical presence at the auction site as well as online bidders being able to view the auction and bid over the Internet. Auction and bid processing are centralized on a central control system. A remote module is used at the actual physical site of the auction and provides site data to the central control system for handling and distribution to bidders. The technical requirements at the actual auction site are minimized by the centralization of the majority of auction processing, and high-speed network connectivity requirements between the auction site and the central processing system are minimized.

Abstract: A system and method for the online placement of prebids in respect of an auction lot in advance of a live auction. Upon commencement of the live physical or online auction of an auction lot, the winning prebid which was accepted according to the system and method of the present invention will be submitted to the live auction. A Web site system is used to accept the details of prebids, and various methods or formulae for calculating the winning prebid are disclosed.