Online Bidding Dominates Canadian Live Webcast Auction
The stats are in! In a recent real estate and agricultural equipment consignment auction, NextLot’s online bidding software played a key role in generating impressive sale results. With 138 bidders logged on to the live webcast auction, NextLot’s Canadian client generated $985,365 in revenue through online bidding. These competitively-priced online purchases produced by NextLot’s bidders accounted for 50.56% of total sales for the timely late-winter auction. The upcoming planting season provides a rewarding opportunity for NextLot to partner with auctioneers in order supply our farmers with top of the line equipment through online bidding.
Out of a total of 156 lots, 54.49% of the lots were bid on by online bidders. Some of the key items sold in the auction to online bidders included the following high-quality farm equipment:
2012 CMI C175 Twister II Mulcher for $130,000
2011 Peterbilt 388 T/A Highway Tractor for $72,500
2016 Muv-All 53 ft Tri/A Equipment Trailer for $70,000
Online bidding provides auctioneers with the opportunity to expand the bidder base of their auction which can only increase the number of bids and drive prices higher. The profound success of this Canadian client’s auction exemplifies NextLot’s advantage over other online bidding platforms.
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.