Product Overview

NextLot provides auctioneers with easy-to-use, customizable software that allows auctioneers to host online auctions on a webpage that is integrated within and looks exactly like their own corporate websites. Our company offers the full scope of online auction options, including pre-bids, online-only auctions, and live webcast auctions. By using its software, NextLot’s clients maintain control over their own customers and do not open themselves up to competition.

Online Auctions Home Page

NextLot’s online auctions home page enables auctioneers to list all of their online auctions on an auction calendar. Bidders are able to view sale information and lot catalogs and if they find assets that they want to bid on, they can register to bid online.

Pre-Bid Auctions

Auctioneers can accept pre-bids for a set amount of time prior to the live auction (e.g. 2 weeks) which creates excitement for the available lots, allows bidders who cannot attend the auction to submit bids online, and, ultimately, may increase the final selling prices.

Online Timed Auctions

Instead of holding a live auction, auctioneers recently have been holding an increasing number of online-only auctions. In an online-only auction, auctioneers place assets for sale for a set period of time, for example 10 days. NextLot’s online-only auctions simulate live auction events because even though the events have set closing times, the lots’ closing times will extend so long as there are two competing bidders. Only when there is one bidder left will the lot finally close.

Bidding Extension

NextLot’s bidding extension technology helps auctioneers receive higher sales prices for their assests. Online auctions enable auctioneers to hold auctions at a fraction of the cost of holding traditional, on-site auctions while attracting a national, even an international audience of buyers.

Live Webcast Auctions

Live webcast auctions allow bidders to listen to real-time audio and watch real-time video of on-site auctions and bid from the comfort of their homes or offices. Unlike other webcast software, NextLot’s webcast technology is browser-based and requires no additional software to run. Webcasts enable auctioneers to conduct traditional auctions while employing modern technology to open their auctions to buyers from anywhere, not just the local area.