3 Benefits of Using Simulcasting for Your Next Auction

Auto auction software

If you’re planning on hosting a GSA auto auction in the near future, there’s an easy way to make for a more successful and profitable event: simulcasting. Simulcasting involves broadcasting an event online (using streaming video) in real time. This means that using an online auto auction software in conjunction with a live event provides all the benefits of both live and online auctions. Here are a few benefits of using simulcasting technology:

  1. You Can Attract a Wider Audience

    Simulcasting can broaden your audience in several important ways. First of all, simulcasting removes the geographic limitations of a physical auction, since people from all over the country can participate. Secondly, you might attract people who would be intimidated by actually attending an auction in person. People tend to try out new things online — either because of convenience or because of timidity — that they wouldn’t bother going to in real life.

  2. Things Can Get Started Early

    The details of the items up for auction can be posted online for a week or so before the auction ever begins. This allows your online base to get excited about the vehicles and plan their bids, as well as providing greater opportunity for people to find out about the auction. Bidders can even make proxy bids in advance.

  3. Online and Real-World Users Can Interact

    One of the biggest factors determining the profitability of an auction is how the bidders interact with each other. The psychology of competing with another bidder is often what causes someone to go higher than they originally intended. Simulcasting allows online bidders and physically present bidders to interact in real time, resulting in higher bids — and higher profit margins.

Buyers, would you prefer to bid online for a simulcast auction? Sellers, would you consider using car auction software for your next GSA auto auction? Share your thoughts in the comments.

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