Traditionally there are two types of online auctions: online only and online simulcast auctions. Kraft is the expert in both types offering over 100+ online only auctions a year and offering their largest auctions every year in a simulcast format across multiple bidding platforms.
Online Only Auctions
This is the most common type of auction we do at Kraft Auction Service. Most commonly called “OLO” on our website in short for Online Only. These are timed auctions, very similar to an eBay auction but with a major difference.
The auctions are set-up in a “soft-close” format, which means items close in a staggered manner and if a bidder bids in the final 2 minutes of an auction, the bidding extends for another 2 minutes. Unlike where you can be “sniped” on eBay, on our site all bidders have a fair opportunity to bid their price on an auction item.
The best part of the online only auctions is bidders are able to bid 24 hours a day 7 days a week until the auctions is closed, and when compared to a traditional live auction this is a major difference. At a live auction with no online bidding, you are going to only get the price that is bid by the few people in attendance. Though with an online auction your auction will be viewed tens of thousands of times by bidders from around the world bidding on your items.
The online only format is the best way to market your assets and to make sure you get top dollar for them when selling. Our company was built on the live auction format, but understand in today’s market this is the best way to achieve top dollar for our clients and why we recommend all sellers to consider an online only auction.
Online Simulcast Auctions
An online simulcast auction is a live auction where bidders can bid live onsite at the auction, but at the same time bid in real time online for the auction. We conduct these types of auctions for the very best antiques, collector car, specialty,business liquidation and equipment auctions.
Throughout the year Kraft Auctions conducts online simulcast auctions through KraftAuctions.Hibid.
The online simulcast auction enables bidders to bid on auction items prior and during the event. With the right items, this method can attract thousands of bidders from around the world.
What makes our online auctions different from other companies?
We have dedicated teams who make sure your online auction is done the best way to achieve top dollar for your assets. Here is a list of some of those major differences:
- Professional cataloging crews who come onsite to set-up the sales and order the sale to benefit the seller
- Catalog staff who takes pride in cataloging and photographing the items to make them look the best
- Full time editor who goes through each lot in the catalog to make sure all photos are done properly
- Shipping department allowing bidders to bid worldwide. From each of our auctions we bring items back to our facility to be packed and shipped. Monthly we ship over 2000 packages to buyers from our auctions.
- Delivery Services – We also offer white glove service delivering items to the buyers door for larger pieces. We are the only company locally to offer these services and are the true difference maker when achieving top dollar for your assets.