Published June 3, 2019
Online Auctions From Our Family to Yours
NextLot is the brainchild of father-son team Norman and Scott Finkelstein. Celebrating 50 years in the auction industry in 2019, Norman spent 40 years partnering with some of the world's leading industrial auctioneers to buy factories and sell the machinery and equipment at auction. With the rise of the digital age, auctioneers started using public portals to simulcast their auctions to wider audiences and buyers. Norman felt that there was a better approach and envisioned a way for auctioneers to build their brand and increase their exposure and sales while being able to retain ownership of their most valuable asset, their data. Norman approached Scott, who had previous experience in building a financial technology company, and together they developed a company to service the underserved need for an intuitive, easy to use online platform that had the features auctioneers were looking for coupled with excellent customer service. With this all in mind, NextLot was born.
What started out as a family business quickly expanded. Norman and Scott hired Matt Henderson who learned the business from the ground up, ultimately becoming NextLot's COO. Today, Matt is an instrumental voice in crafting NextLot's strategic direction and designing its product in addition to managing operations. Norman, Scott, and Matt hired outstanding technologists to drive NextLot's key technical innovations, from its market leading webcast, to offering the first privately branded mobile bidding app, an innovative auction cataloging tool, and developing two patent pending technologies. Over the years, NextLot has brought in an excellent staff to implement the software to clients around the world and support all the varying and customized needs. NextLot was even named to the Inc. 500 list of the fastest growing private companies in the United States in 2012. What makes NextLot unique is its continued position as a family business. NextLot is able to relate to its customers, be nimble and responsive, and service them in a way that only a family business can do. NextLot's dedicated Account Management and support team, comprised of many people who have worked for the company for over five years, are the face of NextLot, responsible for providing customers the best service in the industry.
As NextLot has grown since its founding in 2007, Scott and Norman have resisted the consolidation occurring in the auction technology space and have never raised one dollar of outside capital. To date, NextLot has run over 23,500 auctions and has sold $21 billion in assets, from heavy equipment and farm equipment, to livestock and luxury items (including fine wine), and so much more. NextLot has hosted auctions on every continent except Antarctica! The company's proprietary software allows auctioneers to separate themselves from their competitors and run online auctions on their own websites, so they don't have to list their auctions side by side with their direct competitors on a public portal. Therefore, auctioneers can do what they do best, identifying assets to sell, market and sell them, while building their brand and keeping their own data, while NextLot powers the technology on the back-end. These are just some of the many reasons why auctioneers from everywhere use NextLot. Scott and Norman are committed to servicing their existing customers and attracting new customers the old fashioned way -- by doing right by auctioneers and letting the good word travel.
About NextLot, Inc.
NextLot provides auctioneers with a fresh approach to online-timed and live webcast auctions by providing extremely easy to use, mobile friendly, privately branded software for three main auction formats: Timed Auction, Webcast, and Pre-Bid. NextLot, founded in 2007, has run over 37,000 online auctions and has sold $28 billion in gross merchandise value on its platform.