UKAuctioneers BidonThis and TheAuctionRoom merger to leverage technology
Anyone who was following the football last week (The Ecommerce Cup, not the World Cup in Russia) may have noticed that one of the Sponsors changed at the last minute from BidOnThis to UK Auctioneers.
We can now reveal the reason for this is that three of the UK’s leading auction bidding platforms have announced that they are to merge creating the UKs second largest auction platform. UKAuctioneers, BidonThis and TheAuctionRoom are joining forces to provide UK Auction Houses across all market sectors with a low-cost solution for bringing internet bidders from worldwide into their salerooms.
Each of the three companies brings something unique to the partnership. UK Auctioneers have been supporting UK auction houses for over 26 years, TheAuctionRoom was founded for the Art & Antiques market. Whilst BidOnThis are a relatively new player to the industry, they have built a platform which secures funds from online bidders at the drop of the hammer on each lot, immediately passing the sale proceeds to the auction house. It’s this technology that has made BidOnThis the fastest growing live bidding platform in the country as it saves chasing buyers for payments. The immediacy and automation of payments from online bidders at live auctions avoids buyer regret and sporadic non-payment – the bane of auctioneers lives.
There are no plans to disrupt the service or prices for the current clients of any platform, but the three platforms are committed to working together and exploring all solution to improve the sales of the current and future customers of every platform.
Auction houses are an largely industry unchanged for decades until they Internet came along. Live bidding online is essential in today’s world, but only if the payments are secured. The ability of all three businesses is strengthened by the merger and key is the technology from BidOnThis to faciliate and automate payments.
Its a little like ebid ebuy and etsy
combining to compete with amazon
The saleroom.com is the market leader in this sector