There is a rising trend of online purchasing, including auctioning with over 50% of worldwide sales made through online marketplaces.
Following the completion of a full inventory, valuation asset cataloguing, we operate a fully online, electronic auction service to extend our reach and offer increased sales figures and hammer value. All of our auctions are presented live and online using our auction webcasting software. This enhanced and modern approach to auctioning affords us a much vaster reach and audience, improving upon sale numbers and figures and subsequently the income generated on behalf of our clients. We utilise the online auction platform, Bidspotter, to improve our reach, with over 83m page views and £220m spent in 2018. The Bidspotter platform is only available to stringently vetted and established auctioneers.
Utilising the platform offers us further reach and organic traffic which ultimately means maximising the revenue return on each auction.
It is no longer the auctioneer's job to get everyone in a room, the room is now worldwide. We are fully capable to simulcast to an in-person audience at the same time as the live online sale (e-auction), however the advent and growth of auction numbers dictates marketing and advertising budget is best placed to drive traffic to our online auction rather than to the physical auction house. Bidders do not have to be at a physical location at a set time which, crucially, increased bidder numbers. Be it a physical or e-auction, the more bidders you have for the auction event the higher the hammer value.
Our industry reputation and marketing prowess attract buyers from a national and international buyer market, accessing buyers for assets potentially deemed end of life in the UK, but with an increased life span further afield. We utilise the technology to our advantage, enabling us to manage a greater number of bidders in order to drive up sales and value.
in addition to our regular plant, machinery and commercial vehicle auctions, NCM Auctions have carved out a niche with UK public sector and educational organisations offering a range of services no other auctioneer will offer. Supporting these organisations with full site solutions, auctioning a full range of items from every conceivable asset category, we have been commissioned to hold 480 auctions, and became an ongoing partner for surplus asset disposal. This has contributed to NCM Auctions comfortably achieving £1.2m in hammer value in 2017/2018.