The auction invoice is for any type of property or service that is sold to the public and to the highest bidder. Depending on the type of bidding system, silent auction or live auction, the company or individual hosting will provide a platform and market the auction as an event to attract as many potential buyers as possible. The auction invoice can be used to bill a bidder for the items purchased, or to bill the seller for the auctioneer’s commission.
Live Auction – Hosted by an auctioneer that gives the details of an item and takes bids by scanning the crowd and viewing bidders show of hands.
Silent Auction – Property and services are detailed and the bidders place their bids on a sheet of paper with the auction ending at a certain time-frame.