3 Ways to Boost the Profitability of Your Auction Using Simulcasting Technology

Written by cartalk on . Posted in Gsa auto auction, Manheim

Gsa auctions

It’s generally believed in capitalist systems that competition drives prices down. But a notable exception to this is the situation of an auction; Google Executive Chairman Eric Schmidt once observed that “There is a surprising, if not bizarre [fact that] more competition in auctions can actually produce more revenue, rather than less.” In fact, auctions are a multi-billion-dollar industry, and new online options are only causing it to grow. Here are some things to keep in mind when using technology to help your auctions become more profitable:

  1. Broaden Your Base

    One of the factors in creating a successful option is drawing in as many qualified bidders as possible, and the Internet offers a massive pool of buyers unlimited by geography. You may have heard of online auto auction