With all the new technology at our disposal, an increasing option for auctions is using auto auction software like SmartAuction. The auction industry itself makes billions of dollars and online auctions are becoming an increasing segment of revenue and business. Auctions tend to be so popular as a venue for selling items since there are lower cost barriers; that is, cheaper than selling goods using other kinds of retailing methods. Auctions don’t require warehousing and generally require only a few (if any) overhead costs. Auctions are particularly good for selling large items, like vehicles, furniture, technology, and electronics.
Why Online Auctions?
Online auctions offer you a wide range of goods, which is more likely to result in you finding a great bargain. Items that go up for auction are usually eclectic, since they can come from any number of places, such as effects of bankruptcy, business liquidations, items confiscated by law enforcement, landlord liquidations, estates sales, etc. Additionally, online auctions also usually provide a dirt-cheap bargain–way lower than you would find at retail prices, since no one needs to pay for housing the items being sold. An online auto auction, for example, might be a great way to find a used car that’s in good condition for your price point. Items are also all grouped together so you can search easily from home. There are also usually very specific guidelines that have be followed by both buyer and seller, so online auctions tend to be safer in terms of rip offs and getting scammed. If a large number of scams get reported, it looks bad for the online auction venue, so they tend to monitor activity very carefully, and work to prevent occurrences.
What Are Simulcasts?
If you’ve looked into participating in online auctions, you may have heard of the word “simulcast” before. This term represents the best of both worlds. A simulcast is an online broadcast of a physical auction taking place in real time. That is, you can be sitting at home or at work, and still be participating in an auction miles away. Simulcasts often use car auction software like SmartAuction to help aid their process. The General Services Administration (GSA) primarily uses SmartAuction, which grants a potential buyer access to an online inventory of vehicles. Another benefit of using a simulcast auction is that information can be advertised a week before the actual event begins, which lets online bidders see items beforehand and make proxy bids. For sellers, simulcast software is a great resource because it widens the bidding pool by letting both online and physical buyers bid against each other in real time.
Online auctions are an excellent method of finding products at reasonable prices without the hassle of having to leave your home or go search for them. The online venue allows you to have all the information at your fingertips and make purchases with a simple click!