Look out, there's a house in your mouse

Property seekers will be able to bid online this Wednesday with the launch of the world's first live Internet property auction.

The joint venture between Internet company, The Auction Channel and UK auctioneer, Allsop & Co will enable participants to bid at the click of a mouse.

Bidders must register and leave a deposit before the auction begins. A digital camera relays the proceedings over the NetBidLive system, whilst the auctioneer watches the online bids on a monitor.

Over 200 residential and commercial properties will be up for sale in real time. Should the event prove popular, the organisers have set up a 'slip road' which will enable users to continue bidding regardless of the number of competitors.

The Auction Channel is using the same real-time system to host the Famous Faces Watch Auction on 24 February. Stars such as Pierce Brosnan, Madonna and Leonardo Di Caprio are donating watches to be auctioned at the online charity event, with the proceeds going to projects in medicine, child welfare, world hunger, the environment and the arts.

The company has also announced plans to run a series of live sporting auctions in association with Sky Sports.

The online property auction takes place on 10 - 11 February at the Four Seasons Hotel, London and at http://www.theauctionchannel.com