Going Once, Going Twice? The Evolution Of Online Auctions.

auction gavel feb 2020
Auctioneer Gavel

Before Ebay was even a possibility, a traditional auction was an event that had an aristocratic audience and was usually hidden from the general public. Early auction houses date back to the 1700s when aristocrats would gather to bid on a variety of hugely valuable items. Artwork, jewelry, books and furniture were common items featured in auction houses. When items are sold to the highest bidder, the experience becomes something closer to a sporting event more than just a sale of goods. In the early days of auctions, names like Sotheby’s and Christie’s were the only game in town. A couple hundred years later, the entire paradigm of an auction would shift into a digital world of unlimited potential.

In the old days, an auctioneer would swing a gavel to indicate that a lot has sold at auction. In today’s world of auctions, the auctioneer has been replaced by a massive media server that runs millions of auctions every month. Ebay has, of course, become the most dominant auction house in history. And while Ebay gets the lion’s share of all modern auction transactions, it certainly doesn’t get to handle everything.

While Ebay can deal with most general items, it’s a different story when it comes to machinery and specialized industrial equipment. There are too many moving parts, literally and figuratively, when it comes to putting heavy machinery up for online auction. The online auction process becomes a bit more sensitive when the lot costs $10,000 or weighs 10,000 pounds. This is where a company like Cincinnati Industrial Auctioneers can jump in and take the lead when it comes to putting heavy machines up for auction.

HGR Industrial Surplus partners with Cincinnati Industrial Auctioneers – who works with BidSpotter – to hold a handful of online auctions each year. These auctions feature dozens of items and span the spectrum from basic machine tools to jib cranes that weigh over 10,000 pounds. Each auction has an inspection day built in so bidders have a chance to get up close and personal with the items they bid on. The inspection day is normally held one day before the auction ends.

HGR is proud to add a lot of items up for online auction including tooling, extruders, air compressors, forklifts and much more. Get details on HGR’s current auction, which runs through March 10, with Cincinnati Industrial Auctioneers here: https://get.hgrinc.com/westech-aution-via-hgr/

And of course, you can always browse our 12 acre showroom which is open to the public and see our inventory online at our website: https://hgrinc.com/

 

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