Kraft Auction Service specializes in both online-only and online simulcast auctions, conducting over 100 online-only auctions annually and offering simulcast auctions for larger events across multiple bidding platforms.
Online-Only Auctions: The Kraft Auction Service Advantage
Online-only auctions, often referred to as “OLO” on the Kraft website, are timed auctions similar to those on eBay but with a key distinction: the “soft-close” format. This format prevents last-second “sniping” by extending the bidding time by two minutes if a bid is placed within the final two minutes of an item’s closing time. This ensures fair bidding opportunities for all participants.
The 24/7 accessibility of online-only auctions allows bidders worldwide to participate, significantly expanding the potential buyer pool compared to traditional live auctions. This broader reach often translates to higher final sale prices for sellers. Kraft Auction Service leverages this global exposure to maximize the value of your assets.
While Kraft Auction Service has a strong foundation in live auctions, the company recognizes the advantages of the online-only format in today’s market. The ability to attract a larger audience and achieve higher returns makes online-only auctions the preferred method for many sellers. Kraft Auction Service recommends this format to clients seeking optimal results.
Online Simulcast Auctions: Bridging the Gap
Kraft Auction Service also offers online simulcast auctions, combining the energy of a live auction with the convenience and reach of online bidding. This hybrid approach allows bidders to participate in real-time, regardless of their physical location. Simulcast auctions are typically utilized for Kraft’s largest events, providing a dynamic platform for high-value items. By leveraging multiple bidding platforms, Kraft ensures maximum participation and competitive bidding.
Why Choose Kraft Auction Service?
Kraft Auction Service’s expertise in both online-only and simulcast auctions positions them as a leader in the industry. Their commitment to fair bidding practices, global reach, and innovative technology ensures sellers receive top dollar for their assets. Whether you’re selling a single item or an entire estate, Kraft Auction Service offers a tailored solution to meet your needs. Contact Kraft Auction Service today to explore how their auction services can benefit you.
