Let’s see … open the app, take a picture (or several) with a phone, type a description, check a few boxes, and press upload? Yes, it’s that easy. It all started with AuctionWeb (eBay) in 1995 and since then millions of people have sold a variety of items, including property, without the help of anyone else in an online auction format.
Considering some here in 2019 claiming online auctions are as difficult or more to conduct than a live auction, we’ll visit this topic today.
What is also important to note here is that it is extremely difficult to be a good live auctioneer and it’s also extremely difficult to be a good online auctioneer. In fact, being good at anything is difficult for most people. Therefore, there are very few good auctioneers — live or online.
Further however, it is without any doubt more work (and requires more expertise) to conduct an exceptional online-only auction than it is to conduct an exceptional live auction. This stems largely from the number and detail of photos/video and descriptions which are not necessary required in a live auction in addition to bidder vetting, payment processing, storage and shipping.
I remember playing little league baseball as a kid thinking, “I’m so good I’ll likely be playing in the major leagues in no time.” After I got out of Fairhaven, Ohio and started to explore the world a bit, I soon realized I wasn’t that good at baseball after all.
Self-assessment is always a tricky thing, as people who grade their own proficiency tend to “round up.” Once others in the same industry consistently compliment or remark as to proficiency, that’s always a much better indicator, but even then, not necessarily a guarantee.
More to our theme today … “Can ‘anyone’ play baseball?” Almost anyone can, but how many can play well? In the major leagues? Takes a lot more work and expertise to play professionally while virtually anyone “can play.”
The coming years of the auction industry are going to possibly be the most interesting of all time. As software and apps become even more intuitive (and increasingly open to sellers directly,) will the public feel even more empowered to sell their own property online in an auction or buy-it-now environment?
If you are not familiar with the concept of, “disintermediation” it may be a good time to click on it above (rather than look it up in your paperback dictionary which has been disintermediated) and read more about how no industry — including the auction industry — is immune to it.