Live Auction
An SBOit Live Auction is a time-boxed, publicly visible bidding event. Every registered buyer competes in real time, bids are displayed as they come in, and the highest bid when the clock runs out wins the item.
When a Live Auction Is the Right Choice
Auctions are at their best when interest is strong and the item’s final value is hard to predict. Letting the market compete in real time tends to drive the final price higher than a seller would have guessed on their own. Good candidates include:
- Collector and enthusiast vehicles, motorcycles, and boats
- One-of-a-kind or hard-to-value equipment
- Items with multiple interested buyers already sniffing around
- Assets being liquidated on a defined timeline
How It Works
- Submit your item. Pick “Auction” as your preferred format on the Sell page.
- Get verified. An independent SBOit agent inspects and photographs the item in person (verification fees start at $50).
- Set your terms. Choose auction length, optional reserve price, and starting bid. SBOit helps you pick defaults that attract bidders.
- Listing goes live. Buyers bid in real time. They see current high bid, bidder count, and time remaining.
- Close and settle. When the clock runs out and the reserve is met, the winning buyer is committed to the sale. Funds clear through the platform.
Reserve vs. No Reserve
You decide whether to protect a minimum price:
- Reserve auction. You set a minimum acceptable price. If bidding doesn’t reach it, you are not obligated to sell. Gives peace of mind on higher-value items.
- No-reserve auction. The item sells to the highest bidder, period. No reserves generate more buyer excitement and typically more bids — great when you’re committed to moving the item.
What It Costs
- Agent verification starting at $50 per item — paid up front. Volume discounts available when multiple items are at the same location.
- Sliding-scale commission on successful sale — paid only when your item sells. Lower percentage on higher final prices.
- No listing fees and no charges if the item doesn’t sell (beyond the verification fee).