Stop the Auction - I want to 'Buy it Now!' ATG Media launches a ‘Buy it Now’ option for timed auctions
ATG Media has launched Buy it Now functionality for timed auctions on its portals powered by its Global Auction Platform (GAP) – BidSpotter.co.uk. i-bidder.com and BidSpotter.com. Auctioneers running timed auctions on these platforms can now choose to offer items at Buy it Now prices.
Buy it Now allows the auctioneer to specify a Buy it Now price – often the reserve. Where Buy it Now is offered, the bidder has the choice of placing a maximum bid as normal, or offering the Buy it Now price.
Where bidding exceeds the Buy it Now price, the option to Buy it Now is removed. Where the bidder offers the Buy it Now price, the lot is immediately sold and withdrawn from the auction. The auctioneer can then use GAP’s secure auction payment solution to process payment. GAP emails payment requests to bidders who then click the ‘pay now’ link. Bidders can pay by either using one of the payment cards in their ‘mybidder’ account or by adding a card.
David Brindley, Director of ATG Media’s Industrial and Commercial Division said “We expect Buy it Now to be of particular use to our auctioneer customers specialising in retail returns, but it does cross several sectors we are active in. Early adopters of Buy it Now include Simon Charles Auctioneers & Valuers and Davenport Auctions.”
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