How We Are Making Auction Buying & Selling More Inclusive

Today, we are rolling out some major updates to the Aucto platform to simplify bidding in online auctions. With the current strain on supply chains, buyers are increasingly turning to the secondary market for equipment, machinery, and parts. The benefits include low prices and short lead times- and savvy buyers often get some incredible deals at auction. But for those who don’t have experience buying from industrial auctions- the process of getting started can sometimes be frustrating or downright overwhelming. Our recent update should help with this problem.

Easier to Get Started

We are making online bidding more inclusive and have made it easier for first-time buyers to get started. With our new update, buyers can create an account and place their first bid in minutes, without having to go through the traditional headaches of participating in an auction like registration, submitting a deposit, or needing intervention from an auctioneer or website. The process should feel a lot more like buying something on a good e-commerce site.

Repeat Buying Made Easy

A significant number of our buyers purchase from more than one auction. We are simplifying repeat bidding, and buyers will be able to bid in subsequent auctions by simply navigating to the lot they want and clicking on the Bid button. It’s as simple as that.

Of course, establishing and maintaining marketplace trust continues to be really important. Aucto’s verification algorithms continue to monitor buyer profiles in the background and when you click on the Bid button, we verify your credentials to ensure you are a qualified buyer. This background check is good for sellers but also good for buyers since it ensures buyers are only competing against other verified and qualified buyers.

Increasing Control for Sellers

Offering our sellers greater control over their assets and the selling process is one of our main differentiators. This update will expand on that capability. Sellers will now be able to set parameters to proactively prevent bidders from certain regions or competitors from bidding on their assets.

These new approval parameters, combined with the new buyer verification algorithms, will improve our seller’s ability to dictate who they wish to do business with.

Easier to Talk to Us

The team behind the Aucto platform is composed of talented and dedicated individuals that understand your business. We have always encouraged open dialog with our customers and today we are taking steps to open up our calendars to both sellers and buyers that want to have a conversion with a member of the Aucto team.

Buyers can schedule a time to speak with us by navigating to their Buyer Dashboard once they log in to their account. Enterprise clients can schedule a time to speak with an industry-focused Asset Recovery Specialist by going to https://www.aucto.com/inc/start-selling/.