As an auctioneer, you may not realize just how useful a virtual auction can be.
After all, if you’re not running the sale yourself, why should you care? In reality, online auctions can be a fantastic way to drive valuable business to your live sales, and they’re a tool you shouldn’t overlook.
In many states, virtual auctions must be held concurrently with the live auction. Generally this works by placing an ad in advance pointing bidders toward the website where the auction will be held.
The online auction ends an hour before the live auction starts, and bidding picks up where it left off online.
Whether or not you work in a state where this is required, you can take advantage of this same format for all of your auctions. Posting live auctions online in advance of the in-person bidding gives you several advantages:
Greater visibility. More people will see the auction, and bidders might get involved even if they would never have attended the live auction.
Higher bids. On average, online auctions earn 25 to 100% more than live-only auctions. By starting your live auction at the highest online bid, you can coax more out of your bidders and put more in your pocket.
More serious bidders. The people who come to virtual-live hybrid auctions are usually serious bidders who are invested in the outcome of the auction. You won’t get your time wasted by as many browsers if they can satisfy their curiosity online first.
Shorter auctions. Since you’ll have a higher starting bid, the auction will go by quickly. Most of the bidders who arrive at the in-person auction will have already looked at the unit online, so you can get to business faster. This saves you time that can be used running other auctions.
By using the free service at OnlineStorageAuctions.com, you can maximize your efficiency and earn higher bids without sacrificing any part of your commission.
Unlike pay-to-post listings, our service is 100% free. Auctions can be posted by individuals, storage facilities or auctioneers, and getting started is fast and easy. Give it a try for your next sale!
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