As Internet use continues to grow and Internet purchasing becomes increasingly popular among consumers, the concept of online auctioning becomes more and more attractive to liquidators and private sellers.
But what exactly are the benefits of online auctioning? Read through the following list of advantages to learn more:
1. Global Buyers
Through online auctioning, sellers have access to a much larger and more diverse population of bidders (especially now that social media has become so dominant among Internet users). As such, they can expand marketing efforts beyond a specific locale, and (depending on the product itself) raise prices based on consequent increases in demand.
2. Expansive Showcasing
Online auctions allow sellers to showcase entire collections of furniture or equipment via links to multi-page portfolios or additional Web pages. Consumers who may have been wary about buying an entire collection of equipment without first seeing each product included will feel much more secure about making a bid.
3. Elimination of Transportation/Storage Costs
Inherent in the above advantage are savings in transportation and storage costs. While live auctions require sellers to finance both in order to place a product in view of bidders, online auctions rely on digitally uploaded photographs that cost the seller no more than the price of a camera and Internet/cable fees.
4. Digital Payment
Once the online bidding process is concluded, payment is taken care of with a few clicks of the mouse. While most live auctions require bidders to pay in cash, to be brought on the day of sale, this more efficient method allows buyers to pay with a credit card or other Internet account system (like Paypal) which instantly transfers funds into the seller’s account.
Want to know more about the online auctioning process and how you as a seller might benefit? Contact us at Lauro Auctioneers by calling (954) 376-5945. We are a family-owned auctioning company with experience in both live and Internet auctions, and can answer any questions you have about setting up an online profile for yourself or your business, and how to make a successful sale online.