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TOPIC:

Western Traders Current Auction 06 Aug 2022 18:32 #238089

  • Gryphon
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Hi,

in part the pandemic, lockdowns and border closures forced many Bricks and Mortar auction houses to go online very quickly just to survive and the fastest way to do that is to use existing platforms, hibid comes to mind but there are many others, but these platforms in turn take a cut of the sales rather than a flat fee so they are good for 5 or more percent increase in the Buyer premium in recent years.

And if I was running an online auction site I would have end times that were random, 'Auction finishes sometime between 7pm and 8pm and no bids within 5 minutes of each other. A lot more difficult to fiddle the system.

Terry

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