The Midwestern climate could have been a factor in the success of a consignment auction hosted by one of NextLot’s premiere clients. Instead, the stormy weather propelled the presence of online bidders due to the reliability NextLot’s innovative software.
The North Dakota based client found unparalleled success in their large consignment auction featuring a variety of agricultural pieces. Over 400 online bidders logged on to the client’s customized online bidding platform with an intent to purchase quality machinery. These users dominated the sale with 83.3% of the items receiving online bids, which drove prices to competitive values for the client’s consignment auction. The sale had a consistent presence of participation from online bidders and topped past auctions with a total online sales of $653,535, which represented an online sell-through rate of 54.49%.
The most valuable machinery featured in the auction were the John Deere Combines which all sold for competitive prices online. Here a few pieces to highlight:
JD 9770 Combine $60,000
2006 JD 9860 Combine $40,000
2004 JD 9860 Combine $30,000
The comfort of the online bidding system provides NextLot’s bidders with the ability to purchase state-of-the-art equipment at great prices. With a customized bidding platform, NextLot’s clients can host online auctions to reach the maximum amount of bidders possible. The advantage of a user-friendly system has lead to all-around success for NextLot’s clients and will continue to prove effective in future sales.
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.