Matching Supply-Side Costs With Demand-Side Value in Procurement Auctions (Forthcoming in JoPP)
About On-Demand Auctions
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Transcript of About On-Demand Auctions
Rasmus AuctionsIRON PLANET
Online Only Auctions
What being sold at online only auctions ?
Why utilize online only auctions. Quicker Turn Around for clients Cost Advantages to the auction company
▪ Run Multiple Auctions at once▪ Little to No Marketing Costs▪ No Auction Day Labor ▪ Able to take small auctions and make money.
Solutions Provider
An On Demand Auction System for auctioneers, governments, and non profits.
The System – Applies to the other software options currently available such as. Bidder Central JBS Software – MaxaNet Proxy Bid Auction Flex Bid Spotter CUS Auction Anything
Difference in Systems
Auction Software with an online bidding module. Load Data and Pictures into your auction software, upload for
bidding, download back to auction software when the auction is over.
SAAS Software As A Service
The application is completely web based and can be accessed anytime, from any internet connection.
Customer Database Shared Customer Database Retain the Customer / Buyer Database as your own.
The On Demand Auction System
Sample Auction – Coffee & Deli Shop1. Marketing – Day 1
1. Mailer – Oversized Post Card1. Need Pictures and List of Equipment to promote2. Use an On Demand Printing Company
1. Time Frame for printing and mailing - 5 days3. Order Mailing List – Info USA
2. Place Print Advertising if needed.3. Internet Sites
1. Auction Zip 1. Develop Ad / Terms Location and add Pictures2. Ad shows up on your own web site, WAA, and NAA
On Demand Auctions
Auction Setup – Day 2 Setup and Catalog the auction
▪ Better Lots get tagged up front▪ Place is cleaned up and ready for an auction▪ Taking and Keeping Track of the Pictures.
Day 3 ▪ Finish any setup and put signs up.
▪ Sign Up Next Auction
Day 4 ▪ Enter Lots, Pictures and Video into your online bidding
platform.
Auction Setup
Auction Setup
On Demand Auctions
Day 5 Proof the Auction
▪ Spelling, Consignors are correct, etc. Create Auction Catalog in PDF Format.
▪ Bullzip – Free PDF maker.▪ Post to Auction Zip▪ Post to your online auction site.▪ Add more pictures to auction zip▪ Go Live with the auction▪ Send out e-mail blast to your clients.▪ Post an ad on craigslist.
▪ Repost your ad because it got flagged.▪ Buy Google Ad Words – Make ad and go live
Google Ads
Google Search Results
On Demand Auctions
Length of Auction 6 to 7 days after advertising is received.
Preview 2 days before auction closes. Auction Center – Open daily for preview
Auction Closing Time Evening for General Audience 2:00 PM Local Time for Business Assets
Lot Info
1. SKULot Number, VIN, MLS # - Prints on customers invoice after the description
2. Quantity – xx multiplies out the bid – must take all3. Short Description4. Unit- Sq Foot , etc5. Opening / Starting Bid6. Bid Increment7. Bid Reserve8. Weight9. External Information
Links to other URL’s10. Long Description
Long Description
Complete HTML Editor Like a word processor to build out a
complete web page, add Video, Pictures, and more text.
Cut and Paste from other web sites Does not print on invoice
Editor Built In for Description
Cut and Past Long Descriptions
Starting Bids & Reserves
Starting Bids Low High Start at the Reserve A good rule of thumb is to have the
starting number reflect how you would in a live auction.
Bidding Rules
Different Software Products Have Different Bidding Rules. Bid whatever Let the buyer raise their own bid Set Increments depending on the
amount the bid is at. Enforceable rules that have starting
bids, required bid increments, and optional reserves.
Bidding Module
Bidding Module Continued
The Buyer
Does your bidder no how much they have spent so far?
Do they know if they are in or out? Do they receive e-mail alerts? Do they know what they won, when
the auction closes? Can they print and pay their invoice
online?
Communicating With Buyers E- Mail
Built in e-mail service.▪ E-Mail all customers and consignors ▪ E-Mail just customers bidding on lots in that auction.▪ E-Mail just the top bidders.
Handling Questions and Answers Constant Contact – E-mail service Phone Live Chat
Questions to Auctioneer
Internal E-mail System
Dynamic Closing
Auction starts closing from the beginning at set intervals.
Auction on that item may extend 5 minutes until there is no bidding, before moving on to the next lot.
If a bid is placed within 5 minutes of the scheduled auction end, the auction closing time will automatically extend on the whole auction by an additional 5 minutes. .
Processing Invoices
Printing invoices and calling for payment, or sending an e-mail for payment to a pay pal account.
Who has the data Is it back in at the office Or is it available online.
Can the Invoice be spilt for multi location auctions or for sales tax reasons?
Authorize.Net provides a payment gateway. Take bankcards online and monitor the payments anywhere.
Authorize.net
Shipping Order and Order Pickup
Need a system to know who wants their orders shipped and who is going to pick it up.
Shipping Orders Craters and Freighters Freightquote.com
▪ If shipped you need to monitor that it was received.
Consignor Management
Assign consignors to an auction Allow consignors to enter their own data.
▪ Exchanges Track what has been paid for that consignor. Flexible Fees to consignor.
No Commission Flat Rate Schedule Combination Additional Fees
▪ Marketing▪ Cleaning▪ Repair
Management Reports& Other Things to Look For
Export of Sales to Excel Sales, Fees, Commissions, Sales Tax, etc. Lots Not Sold
▪ Are you able to sell unsold lots after the closing time.
▪ Are you able to sell lots that were bid on under the reserve.
Lots Not Paid For
Tracking Inventory
Consignors Tagging the piece
Lot Numbers, VIN’s, & MLS #KU SKU
▪ Internally and External Numbers Reselling unsold inventory
Assign Consignor to The Auction
After Auction Bidding Results
Secure Payment System
Tracking Shipments
Consignor Menu
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