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Number of Online Auctions Increasing

KABy Karen Aulds|Jun 7, 2014|1 min read
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If you haven't noticed, the number of online only auctions are increasing.  Here's how they work.  An Auction Company photographs, write a description and using online only auction software to upload the sale data and photographs.  The auction lasts for a specific number of days.  Interested bidders register and then can bid on items in the auction.  Some systems provide for one bid amount to be entered, while others allow a low and high bid to be entered.  If the bidder is outbid an email notice is usually sent to the bidder by some systems.

How the online auctions end varies.  Some end all items at a specific time, some stagger the ending of the auction, whiile others extend the bidding on items that are bid on during the last few minutes. 

Many local Auction Companies are using the online system to move more items, cater to a wider group of potential buyers and sell a wider selection of items.  In an online only auction, the number of items that can be sold is generally unlimited, while in a live auction only a certain number of items can be sold at one auction.

Live auctions will continue to be popular but online auctions will more than likely out number live auctions.  Many live auctions take advantage of online biding to allow buyers to bid online during the live auction but this still requires that the buyer be at their computer during the live auction unless they have entered a max bid and win the item in that manner.

If you need information, training or consultation about either online only auction software, or online biding during a live auction, please contact us for assistance. 
 

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