Who uses online auctions and why?
So we’ve defined and explored online auctions. Now let’s discuss who might use such a platform and why?
The popularity of online auctioning has exploded in the past few years. A survey conducted by the National Consumers League in the U.S. found that one third of American adults, approximately 35.6 million people, have participated in online auctioning.
Sellers using online auctioning platforms can range from companies selling excess product to private sellers auctioning single items. A company or small business may also use an online auction to test a product and assess how the market responds before moving forward with mass production.
Private sellers may opt for auctioning items online for a variety of reasons. For many, the current pandemic has driven online selling as a way to avoid group gatherings. Many sellers also tend to be sustainably minded and prefer to try and sell items they no longer need rather than donate them or take them to the dump. You may be an antique dealer who wants to reach a wider audience. Online auctions also allow individuals with large collections of items from estates or downsizing to sell their items quickly and with minimal effort.
At Just In Time Solutions we like to use online auctions for various reasons, some we already mentioned above; they get into the hands of people that want or need them, keeps items out of our landfills, empties an estate quickly and we get a wide audience. Sign up for our mailing list and we will let you know when the next one airs.
There are many reasons why businesses or private sellers may choose this method of selling. Public safety, sustainability, ease of use and access to buyers are only a few.