1. A method of conducting a live auction using a computer-readable medium having computer useable executable instructions thereon to perform the method, said method comprising: providing access for auction participants to an auction for one or more auctioned lots of products or services that is conducted and overseen by an auction administrator at an auction host location, at least some of the access to the live auction being provided to remote auction participants through an auction host computer system that is in electronic communication with the remote auction participants over a computer communications network, each of said remote auction participants having a remote participant interface embodied on a remote computer device configured for electronic communication with the auction host computer system; detecting with the auction host computer system at least one remote participant interface configuration of a remote auction participant and adjusting data transmission to said remote auction participant based upon the detected configuration; transmitting substantially in real time from the auction host computer system auction-related data and at least one of video and audio feeds of the live auction through the computer communications network to the remote computer systems of one or more remote auction participants by way of said remote participant interface; receiving information from the remote computer systems of the remote auction participants through the remote participant interface transmitted to the auction host computer system; initiating a test bid upon a remote auction participant initially accessing information through the network provided from the auction host computer system, the test bid mimicking a bid request that is transmitted to the auction host computer system over the network to evaluate whether information from the remote auction participant is being properly received by the auction host computer system through the network, the remote auction participant being provided at the remote participant interface with an indication of at least one of a success or failure as to whether information transmitted from the remote computer systems over the communications network is being properly received by the auction host commuter system; displaying on an auction display of the auction host computer system at the auction host location information regarding the conducted auction and current bid information; receiving at least one bid for a lot of products or services from a remote auction participant transmitted over the communications network to the auction host computer system; displaying, by said auction host computer system, the bid amount to remote auction participants and/or live auction participants; electronically notifying the remote auction participant over the communications network of a winning bid or withdrawal of the auctioned lot if the bid amount is not at or above predetermined minimum bid amount; and closing the auction for the auctioned lot.