Which is better, Online or Live auctions?
We are asked this question many times in this business and our answer is of course, Online auctions!
Live bid call auctions are fun, there is no doubt about it. At a live bid call auction you get to interact face to face with many people and if the auctioneer is good at chanting the excitement is awesome. Live auctions though have their cons like all industries. To start you must drive to a location and in sometimes stand in bad weather to place your bids as compared to online where you can enjoy your coffee, place your bids and relax at home or even from your phone. Sometimes the auctioneer does not here or see you place a bid and you miss the item you wanted as compared to online you can place bids days before the auction closes and go about your daily routine. In some rare cases crooked live auctioneers place people in the audience who bid against you with no intention of actually buying just so they can increase the dollars (called puffing bids), this is illegal but some auctioneers do it any way. A good online auction system like the one AuctionSpear.com
utilizes, will have safeguards built in that lock out the administrators (Auctioneer and staff) when the auction starts so no illegal activities can occur. An online competitor uses outdated 16 year old software which not only allows the auctioneer to corrupt bids but encourages it. Steer clear of these types of online auctions and always make sure the online auction company regularly updates their software such as AuctionSpear.com
does at least twice per year.
As a seller in auction, an online auction will outperform a live auction due to it's ability to reach literally thousands upon thousands of buyers over the internet and in some cases nationwide such as AuctionSpear.com
. This helps increase the bid dollars and the sellers ROI as compared to live bid call where at best on average between 75 and 100 people may show up at a live auction. Would you rather sell to 100 people or 10,000 or more people? The cost to sell is much less with online vs live auctions as well. With online there is no need for security, ring-men, cashiers, etc. all of these are automated with online software and therefore reduce the cost to run the auction.
Bottom line; Live bid call auctions are fun and exciting, but the future is online now, more and more people are buying at online auctions and the trend is increasing rapidly due to the rapid advances in technology and delivery services. So sit back relax, log in and place your bids today! If you are interested in Buying or selling at an online auction contact us today
or register to bid here