Devoid of Geographical Restrictions

The actions of geographical boundaries can be considered one of the major benefits of online auctions. They provide an opportunity for the seller to bring forward services and products to millions of buyers from across the world.

In the end, whoever offers the best bid gets accepted and wins the product. This specific factor is advantageous for both parties. While the seller gets to list products by sitting in one part of the world, the buyer gets to buy from another end of the globe.

It completely eradicates the restrictions of traditional actions where one had to attend the physical bidding even though they were not sure of buying anything listed.

Time Doesn’t Play a Detriment

Nobody holds the power to restrict a buyer as far as the timing for bidding is concerned, considering that an online auction is up and running throughout the day and night. This essentially means that while the seller could be fast asleep somewhere in India, the buyer can happily bid sitting in America.

In terms of timing, you always have a free hand. You can log into the auction late at night or anytime in the afternoon to get the best deals, or even list your items.

Attracting the Buyers to Value

Sometimes, potential buyers and bidders might shy away from purchasing a specific product as the value of the same may indicate suspicion, which could arise because of inaccurate descriptions or pictures.

Generally, the ones who begin bidding execute a preliminary analysis and research of the product’s real value. But online auctions can eliminate this risk by providing every participant with the confidence that the value of the commodity is satisfactory.

This confidence is boosted when more and more buyers express interest in that particular product. Apart from that, the online option turns out to be more attractive for the most determined and severe buyers.

Acceptance of Universal Products

Construction equipment, assets, medicines, food products, cars, clothing – a seller gets to list almost everything for bidding. And before they know it, the products get a buyer. As for the seller, this is a beneficial win, given that they are confident of selling a commodity without any hassle.

With this extensive range of products, bidders must only narrow their search according to the requirement and go ahead with it, irrespective of the part of the world they reside in. The seller can also get connected with those potential leads who were looking for a certain product in the past to convert it into a sale.

Adam is an online auction platform. That‘s why it allows attracting buyers from distant regions which increases the interest in property Online means a wider audience of buyers.

Easy and understandable registration for buyers.

Personal offer functionality – Adam AI engine creates an original list of advertised goods for every single buyer based on their actions and historical data in the Adam platform. Adam tracks what categories or what items every single user is checking, and how much time they are spending on reading descriptions and checking photos. Also, Adam remembers what kind of items each user bought in the past or for what goods they were bidding. From all the actions made on the platform, Adam is creating an individual picture of the needs of every single user. Then Adam is checking for similar items or goods that are in the auction and creates a Personal offer for each buyer. This functionality increases the number of buyers who have checked your listed goods. And the flow of buyers that is created by Personal offer functionality is valuable. All buyers coming to check your goods are “hot” and have intentions to buy.

Your items or goods have no “price tag” therefore buyers are not comparing your items on price alone. It also encourages the greatest range of buyers to bid who may otherwise only be looking within certain price ranges.

Adam’s auction platform decreases the need for face-to-face communication or bargaining. Everything happens online. Such a way of buying is getting more and more popular, especially among new generations. So it‘s a perfect tool to attract such customers.

Increasing interest from would-be purchases is made more accessible because an auction date creates a sense of urgency and maximizes marketing efficiency.

A “reserve price” ensures that you never sell your item for less than you want.

If there will be a buyer which is willing to buy your item – it‘s possible to buy it for the „Buy it now“ price. In this case, you will get a higher price and your item will be sold immediately. So not only maximizing your profit but also saving time.

If you expect a higher price it‘s a great idea to have an auction that lasts longer. In this case, more potential buyers will check your listed items and there are higher chances to get a better price.

Selling your items in a Texas auction will ensure that you will receive the maximum number of bids and there will be no buyers who lost the opportunity to bid because time has run out. Another great idea is to sell property in a Sealed auction. Here buyers have only one chance to bid and they don‘t see bids from other buyers while the auction is finished. It means they are bidding maximum on what they can afford. Another great idea is to mix a few types of auctions. In this case, the Forward auction (at the beginning) mixed with the Texas auction (at the end of the auction) would work perfectly. In the beginning, all bids would be seen by all buyers, and everyone can place a higher bid. But just before the finish of the auction rules will be changed to Texas auction. This means all participants will have time to think and will not miss the opportunity to place their biggest bids. What is great is that you are managing all the rules and it’s your decision whether it should be a mixed auction and how long it should last.

Absentee bidding allows buyers to set up the maximum price they are willing to pay for the item. And Adam will place their bids instead of them. If someone is overbidding, the system will place a bid automatically till the limit is reached. This saves a lot of time for bidders and increases the amount of money they are spending.

Adam has a special AI engine called Customer status prediction. Customers’ status prediction engine tracks the activity and historical data of each buyer and it can identify when a buyer is „cold“, „warm“, or „hot“. Based on this information your managers or marketing campaigns can reach these customers with special offers to force them to buy. How does it save time? Your managers spend their time dealing only with warm or hot customers which reduces their load by at least 50%. It means you need fewer managers. It‘s possible to automate communication with buyers having different statuses. Again, it saves time for managers and the marketing team. Adam is also able to predict how customers’ status will change during the next 3 weeks. This prediction allows dealers to identify buyers who are not satisfied and prevent from losing them or to find out reasons why buyers are not satisfied. And again, it allows for planning different activities with buyers having different statuses. It saves time for managers and makes the sales process way more efficient.

Full automation. Adam allows automating auctioning process fully. It means Adam via integration can get whole items or goods from other systems (from ERP, warehouse management, or other solutions), calculate target price based on provided formulas, and upload selected items to auction on the presented date and time. Each auction can have different presented rules. No human interaction is needed after everything was set.

Full automation. Adam allows auctioneers to automate their selling process fully. It means Adam via integration can get whole items from other systems (from ERP, warehouse management, or other solutions), calculate target price based on provided formulas, and upload selected items to auction on the presented date and time. Each auction can have preset rules. No human interaction is needed after everything was set.

Using Customer status prediction and Notifications Adam allows you to set up automatic messaging and communication with different segments of buyers – one campaign for “hot” buyers, another campaign for those which AI predicts to become “hot” and one more for prevention for customers which AI expects to become cold in next 3 weeks. Such campaigns will boost sales numbers and will prevent losing potential buyers or even if you will lose them, you have a tool that allows you to identify the reason why buyers were not satisfied.