While traditional auctions have been around for quite some time, there is another option that is becoming more popular. Online auctions have picked up and grown alongside the thriving digital world. Both traditional and online auctions have their advantages and differences, and the experts at Backes Auctioneers are here to walk you through them:
- Traditional auctions give buyers the chance to examine items up close and ask questions. Bidders are able to talk with the seller and get details before the auction begins at certain venues, which allows the buyer to make an educated decision about purchasing the piece.
- Since online auctions are virtual, this allows for extreme convenience for bidders. Bidders don’t have to leave their homes, but can instead open up the browser and find their desired item.
- Online auctions may mean the item being bid on will be more expensive than at a traditional auction. With everyone online having access to the sale, there is the potential for more bids to compete against yours. However, this also can mean you’re able to find incredible, inexpensive items online. In the absence of an auctioneer to point out the item, no one else notices it.
- Traditional auctions require the buyer be there to purchase the item, which takes the unlimited competition aspect away when compared to the online world.
- Traditional auctions offer a fun, exciting experience because bidders are included in the hype of the moment.
- Online auctions are beneficial to sellers because the seller doesn’t have to pay fees to hold an auction event in a certain location. Sellers are also able to invite anyone to attend the online auctions, bringing in more buyers which will raise the bidding prices.
We hope these advantages and extra details further your knowledge about the main differences between auctions. Contact us today to see what traditional and online auctions we have coming up, or if you’d like to have one of your own!