On-Line Auction Forecast

The online auction platforms have been growing in leaps and bounds since 2021 and continues to provide convenience for bidders to participate in auctions nationwide. The beauty of bidding online is not having to be present and yet be able to win a lot. Auction companies have entered to an area of growth between the live auction bidders and the internet bidders creating great excitement in competition. The USA is the key market for online auctions in North America owning over 41% of the online pltaform bidding. Online auctions are becoming the normal way of bidding, making it easy to buy items such as, collectibles, rare items, business items, building supplies, overstock items, classic cars, restaurant equipment, gym equipment and on and on. Online auctions are run for a fixed period and run from 10-30 days giving the viewing audience time to look and decide. Bidders are required to sign up in order to participate. Once the participant/registered bidder is signed up, they can browse the items and look around. After they have taken a tour of the auction they can put bids on as many items they may have interest in. Sometime soon, voice-search recognition is expected to be running on most plateforms bringing more technology making bidding even more fun and fast. The auction internet bidding is fairly new only taking interest in early 2018. In closing this is only the beginging of a world wide trend growing in large numbers. The key consumers by countries are US, China, Japan, UK and France just for starters.

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Michael Grosso