NextLot, Inc. an industry leader in online auction software always reminds its clients that its bidder data is its most important asset. Portals often times restrict auction houses access to bidder data, even for bidders who participate in their auctions but do not buy anything. NextLot set out to reform this practice, giving its clients full access to bidder data and allowing bidders access to their auctions at the client’s discretion.
Access to bidder data allows auction houses to make more informed decisions regarding their bidders. Often times auction companies have to rely on bidders to make deposits in order to participate in auctions. With full access to bidder data, auction houses can see if a bidder has submitted deposits in the past or if they have bought at past auctions. With this information, more informed decisions could be made on whether to approve certain bidders for future sales without deposits. Without access to this information, auctions houses can have their hands tied when it comes to managing their bidders.
Unrestricted access to bidder data helps auctioneers more effectively market their auctions. It is just another feature that NextLot uses in order to stand alone against the competition. Please check in next week to learn more about unique features NextLot employs to help make clients’ lives easier and to continue to grow the auction industry.
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