Are alreday several weeks that live auction continue its negative trend.
There have been just a few weeks of initial enthusiasm but then things started slowing down quickly.
My very personal and modest opinion is that, as it is, the live auction is going to die definitely in very few weeks more being no longer a convenient option for both sellers and buyers.
I sincerely do not know if there is a good solution, others pointed out that, probably, the system itself is not the best one to facilitate the buyer-seller match and their points are good ones.
However I would give to live auction a chance more, changing the actual format.
My personal and modest suggestions are:
1) Publicize a bit more the auction inviting buyers to check out the auction list.
2) Eliminate starting price changing it to reserve price.
3) Inivite sellers to list their names as soon as possible and invite buyers to place proxy bids on the names of their interest no matter if the bids are under the reserve price.
(I would suggest that actual number of bids received by each name and maybe actual highest bid too are showed on the list.)
4) On Friday afternoon proxy bidding is closed and only the names who received at least one bid will be sorted randomly and placed on live auction on following Sunday.
5) Live auction starting price for each name would be higher bid.
6) If on live auction the price do not reach the reserve the seller will be then free to contact higher bidder/s to try in find an agreement.
I am absolutely not sure it would work and almost sure that there are better options .
Thanks,
There have been just a few weeks of initial enthusiasm but then things started slowing down quickly.
My very personal and modest opinion is that, as it is, the live auction is going to die definitely in very few weeks more being no longer a convenient option for both sellers and buyers.
I sincerely do not know if there is a good solution, others pointed out that, probably, the system itself is not the best one to facilitate the buyer-seller match and their points are good ones.
However I would give to live auction a chance more, changing the actual format.
My personal and modest suggestions are:
1) Publicize a bit more the auction inviting buyers to check out the auction list.
2) Eliminate starting price changing it to reserve price.
3) Inivite sellers to list their names as soon as possible and invite buyers to place proxy bids on the names of their interest no matter if the bids are under the reserve price.
(I would suggest that actual number of bids received by each name and maybe actual highest bid too are showed on the list.)
4) On Friday afternoon proxy bidding is closed and only the names who received at least one bid will be sorted randomly and placed on live auction on following Sunday.
5) Live auction starting price for each name would be higher bid.
6) If on live auction the price do not reach the reserve the seller will be then free to contact higher bidder/s to try in find an agreement.
I am absolutely not sure it would work and almost sure that there are better options .
Thanks,
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