High time for a new route to market
29 January 2013
ATG Media, Europe’s leading provider of online bidding services, has added eBay-style timed auctions to the range of options open to auctioneers on the-saleroom.com, expanding the service for both sellers and buyers.
The potential of the new service was immediately obvious from its first trial at McTear’s of Glasgow.
“We were delighted to be the first auctioneer to conduct a timed auction on the-saleroom.com. We were very pleased with the results. Timed auctions on the-saleroom.com have already proven themselves to be an excellent additional means of auctioning stock including items that have not sold at live auction,” said McTear’s managing director Brian Clements.
Auctioneers may choose to go straight to market with a low cost timed auction. For certain asset classes timed bidding is already the sale format preferred by auctioneers and bidders.
For buyers, timed auctions are simple. Timed sales are listed alongside live auctions on the-saleroom.com. Bidders register in the usual way and place confidential maximum bids on lots of interest. They are immediately informed by email if they are outbid.
If a bid is placed within two minutes of a lot ending, then the end time is extended for a further two minutes. Buyers can easily keep track of multiple bids using My Saleroom.
Along with the recent introduction of a dedicated delivery service from the-saleroom.com, timed bidding represents a significant new business opportunity.