The advantage of online auction technology

  • By Fred Durnbaugh
  • 19 Oct, 2017

What makes an online auction platform so great?

The advantage of online auction technology
Online auction technology advantages
Auctions have existed for over 2,000 years and have come a long way since the days of the Romans when the "Magister Auctionarium" would drive a spear into the ground to start the auction (This is where we derived our auction website name AuctionSpear.com ).
 Live bid call auctions with an experienced auctioneer chanting bids away was the standard until approximately 20 years ago when "onsale" opened one of the first online auctions which was followed later that year by "eBay". Online auctions are now the norm and booming.
 There are many advantages for both buyers and sellers starting with record keeping of items sold. A good online auction site keeps record of all closed or past auctions that buyers and sellers can access anytime from their PC or phone. This is great for tax purposes, historical bid reference and more.  Make sure when bidding in an online auction the software has this capability.
 Bidding is easy and certain meaning if a bid is placed prior to the close of a lot, the bid is accepted. In a live auction sometimes the auctioneer or ring men do not here all bidders and people do miss buying items. Online is simple, place your dollar amount and click "Place Bid", no worries that you weren't heard or seen.
 Bidder disputes over an item are non existent as the only time buyers may see each other is after the auction has closed and there may be a local pick up of items sold. By this time there is nothing to argue about as the auction is closed and items have sold.
  A maximum bid can be placed and the bidder can walk away from the auction and the system will automatically hold the item until another bidder out bids. In a live auction a bidder must stay through the entire bid process to ensure no one out bids them.
 For sellers, online auctions are very transparent. The auction is open for all to see online and the sellers can see the bids happening in real time. Sellers can also access closed auctions to verify the correct amount owed by the auction company. Quality online auction software also tracks taxes, demographics, page views, website hits, total number of registered bidders, dead beat bidders who did not pay and much more.
 Make sure when bidding in an online auction the software is the latest and updated regularly. Older software is easily corruptible not only by hackers but also by some crooked auctioneers who go behind the scenes online and illegally push bids up. Some of our competitors software is over 15 years old and is very easily corruptible not only for bidding but for personal information as well. AuctionSpear.com software literally locks out administrators when an auction starts closing to prevent any illegal bid pushing (called puffing in the auction industry) and is updated with the latest security protocols.
  In conclusion; be aware of the website you are bidding on and verify they are secure and up to date prior to registering.
Check out the latest auction software and the latest auctions at AuctionSpear.com 
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