Online Auction Software-Timed Bidding VS Live Auctions

 

Now that you have made the decision to offer bidding through the internet there are several things you must consider.  What types of auctions will I be using this software for?  How can I get the highest possible hammer price online and on the floor and also what format will be the most effective online for what I auction?

 

Online Auction Software, does what you auction really matter?

 

What you auction does not really mater as far as whether you decide to go with a timed model or a live model.  What you should really keep in mind is what kind of buying experience you want your buying to have.  How best to build a long term relationship with your customers and how to maximize revenue on all auctions.  People in general respond to interesting and compelling content.  Virtual Auction online auction software provides exciting content through exciting real time auctions with features like streaming audio and video.  This type of content give people a good bidding experience and make them want to return for future events.  Live auctions also drive up the hammer price.

 

Online Auction Software, will it really sell for as much online?

Absolutely, in many cases people online in live auctions will bid more.  They cant feel the bidding environment on the floor and don’t know how much people really want the items(unless you are streaming video), hence often times when using online auction software your live bidders may actually bid more than floor bidders.  Statistics bear out that about 20% of items will be won online and of course those online bidders drive up the hammer price on the floor.

 

What Online Auction Software Helps Me Build Relationships With My Clients?

If your online auction software is live and integrated into your website and not part of a third party portal we feel that an online platform that allows you to manage your client relationships, bill and invoice online and even accept payments directly from your site is the best solution.  That is why we recommend you speak to one of our sales reps at Virtual Auction.