Hosting an Online Auction in Today’s Digital, Stay-At-Home World

In this ever-digital world, we all find ourselves performing more of our daily activities from the comfort of our own homes. Things like streaming movies, ordering food, and even shopping. Well, today there is even more truth to this in lieu of the coronavirus pandemic where most people are actually being ordered to stay home and limit going into work and other public spaces. Now, people find themselves doing just about everything remotely, and for some that can mean running their company, managing inventory, and purchasing new equipment, all from home.

While some operations may have come to a halt, when it comes to industrial auctions, the good news is that a stay-at-home order doesn’t have to mean business is at a standstill. Even before the sweeping pandemic, online auctions were gaining in popularity. So, as you consider whether or not now is the time to host an online auction for your industrial equipment, remember that there are many advantages that an online event can offer.

One major advantage to running an online auction is that you can then open the auction up to people and companies all over the globe; you are not limited to those that can physically get to your plant or facility. This means more eyes on the merchandise, and ultimately more sales.

Keep in mind that with an online auction, you should have all equipment and parts organized well on your website. Be sure to organize the parts and equipment so serious bidders can find what they’re looking for quickly. Also, be sure to have high-quality photos and accurate descriptions of each piece.

Another reason to consider hosting an online auction is because auction attendees actually really like them. Bidders enjoy the online auction experience since they can browse all the available items right from their computer screen, without having to leave the house. There, they can see the complete list of inventory, the current bid for each item, and easily compare items. With one click of the mouse, bidders can bid on what they want, or even sometimes add it to their wish list for later bidding.

And the last reason an online auction is a great choice is that it usually requires less manpower to run the entire event. You’ll need less workers to move the equipment, set-up the auction site, and then hold the live event. Even when hiring an auction company, hosting an auction is a lot of work, before, after and during the event. An online auction, while still work in and of itself, lessens some of that burden.

Now, it’s worth noting that there are advantages to hosting an onsite auction, and they remain a great option when the economy (and your company) is back to business as usual. But for now, consider how an online auction will help you move the equipment you need moved out of your facility and into the hands of eager bidders, without anybody having to leave their home.