Early use of Online and Live Bidding

 Hong Kong's first simultaneous live and online auction took place yesterday in Kwun Tong. Global buyers placed bids online for auction items, competing alongside in-person bidders for coveted pieces. One diamond was ultimately secured by an online buyer who outbid both online and in-person competitors for HK$2,500, marking the first successful online purchase.

The auction house employed this simultaneous bidding format for the first time, creating a lively atmosphere as many on-site buyers competed with online participants for coveted items. The online auction system sets a reserve price and minimum bid increments. When an online bidder places a bid, it immediately alerts the auctioneer to update the price displayed for live bidders. If a live bidder offers the highest price, the online platform instantly updates the information, alerting global online buyers to join the competition until the bidding period concludes.