Canadian Auction House Enjoys Tremendous Success with Timed Auctions

In 2012 NextLot partnered with an Ontario-based auction house running timed online auctions every month. Since partnering with NextLot they’ve seen tremendous growth in both their auction sales and bidder participation. In the last 6 years the auction firm has increased their client bidder pool from 270 to over 25,000 bidders. These bidders encompass nine countries, including ten Canadian provinces and 21 US states.

In a recent auction, the firm was amazed to watch one particular lot significantly increase in value in only 5 minutes. The bidding extension tool, meant to prevent bid sniping, increased the price of their E50 Compact (Mini) Excavator from $53,000 to $58,750, more than 10 percent.

NextLot’s white label solution provides each client with a unique experience catered to their industry's needs. NextLot’s proprietary platform allows for real-time bidding meant to stimulate action throughout each auction. Because of its unique approach and technology platform, included both desktop and mobile bidding, the Canadian based partner has had a more than 40 percent increase in sales year over year.

About NextLot, Inc.: NextLot provides auctioneers with a fresh approach to online-timed and live webcast auctions by providing extremely easy-to-use, privately branded software for three main auction formats: Timed Auction, Webcast, and Pre-Bid. NextLot believes that auctioneers’ most important assets are their buyers and that these assets should not have to be shared with their competitors on a public portal. NextLot users build brand loyalty while enjoying full control of their customer base, and avoiding exposure to competition. For more information on NextLot, Inc and services offered please visit www.nextlot.com.

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