How does trade live search work or is it not working?

Example:
Looking for Kaom's Heart Glorious Plate via live search. (ultimate hardcore) It finds nothing, no notifications come in the game.

At the same time, during manual search, the amount of Kaom's Heart Glorious Plate changes periodically.

Live search is not working or am I missing something?

I would guess it's because Live Search looks for newly listed items, whilst refreshing a normal search will show people logging on/off who have listed the item in the past.

Have you tried changing the "Online Only" dropdown to instead read "Any"? You might be able to track some offline people for good deals this way, and/or double check my hypothesis (i.e. that the "Any" search should never increase the number of Kaom's listed for sale if there is no alert on Live Search).

live search only alerts you to new listings or listings that change price, it does not alert you to old listings coming back online.

Got it, thanks to everyone.
Looks like I overrated the ultimate hc trade.