The history of auctions dates back to 500 B.C. The Roman Empire used auctions to liquidate and estate goods. The earliest records of auctions can be found in the 1595 Oxford English Dictionary. As times have changed the face of auctions has transformed to accommodate the digital age.
When most people think of online auctions, they think of the bidding website, Ebay. This platform has revolutionized the way in which auctions are operated. There are many differences between live auctions and online auctions the main one is accessibility.
Benefits of Online Auctions
The best part about online auctions is the fact that they can be accessed from anywhere you can gain internet access. Many auctions are moving towards using mobile phones as the best way to access them. Because most people have a smartphone it is the easiest way to connect bidders and buyers.
Depending on how the auction is set-up, you can possibly bid on something with the “max bid” option. This allows you to outbid all other buyers and complete purchase the item in one step.
Another benefit of online auctions is that you can view the items in advance of the auction. Most live auctions that take place in-person only let you view the auction items just moments before the items become available to bid on. This allows the buyer more time to view the items and have a chance to decide what amount they feel comfortable paying for.
Smith & Co Auction always allows items to be viewed for several days prior to the auction!
Our dedicated staff of experienced real estate agents has conducted all types of sales.
With intricate knowledge of our local market, we help individuals and families find their dream property. Be sure to download the Smith & Co Bidding App to bid on auction items from anywhere! Give us a call today at 580-254-3975