Embracing technology traditional auction houses now compete with the online auctioneers for sellers, and buyers attention. The live streaming of auctions, from auction houses, has globalized the auction room as those bidding in the room compete against bids from around the world. The gavel has been joined by the computer at the podium as auctioneers track online bids with those coming from the room.
There is an ever increasing number of online auctioneers springing up online, some are niche, others more general - seeking to take a part of the Amazon or Ebay Market. Examining the market, taking on board the trends and challenges faced by a potential entrant with the potential costs of different approaches a strategy for entry into the online auction market was presented to the client. intelligence was gathered through examination of the competition, attendance and discussions with auction attendees and industry opinion.