This past week IndustrialSAVER did a little test by inviting a number of auctioneers to list their equipment free-of-charge on brand new On-line Equipment Auction Marketplace. We made sure to invite only those auctioneers specializing in various equipment for industrial, agriculture and construction applications. At the same time, since the test was rather brief, we focused only on auctioneers in the United States and Canada. The result however, surprised us to say the least. Most auctioneers did not respond to our invitation. That got us puzzled. Why would so many auctioneers not want to take advantage of such a wonderful opportunity to promote their auctions and equipment offerings? Sure, our auction marketplace is new and does not yet have much traffic or activity. But as any smart marketer knows, that’s the best time to get involved in a new marketplace and establish yourself as an authority. Then when the community grows, you’ll have a significant advantage over your competitors joining after you. Apparently, the majority of auctioneers do not understand this concept. And thus, they are not fully grasping the power of the Web.

Do Auctioneers Associations Really Help Their Members?

After we invited a number of auctioneers to participate in our on-line auction, we decided to send a press release to about 40 auctioneer associations across North America. Guess what? Only three of the fifty thought the marketplace was worth informing their members. In PR terms, a 30% conversion (published press releases) is considered very good when it comes to media distribution. But not in my terms, and certainly not with this campaign. Why would so many Auctioneer Associations decide a Web site designed to promote auctioneers (their members) at no cost would not be worth telling their members? Are these associations really out to help their members? Well, at least 3 or 4 of them are because they were smart enough to notify their members of a Web site that can help them market equipment auctions. The rest of them either not did get our press release, did not read the press release or just decided their members would not want to know about a marketplace that can increase their revenues.

Am I complaining? Absolutely not. This little test has resulted in some very valuable information. Not only do we know which Auctioneer Associations are on top of things, but we also know which auctioneers are most actively involved. Extremely valuable information to know. Of course, I’m not saying I’m black listing the others by any means. If could very well be the auctioneer association and/or auctioneer never got our invitation. But the numbers say it all. Unquestionably, the majority of auctioneers lack full commitment to the Web as a marketing resource. And auctioneer associations, most of them anyway, have room for improvement if they are serious about helping their members promote their auctions. I considered detailing on this page which auctioneers and which auctioneer associations did not even give me the courtesy of a reply, even after several attempts to contact them. However, it really does not matter and frankly, they don’t deserve the exposure IMO. Besides, as I said earlier, there is a slight chance the email never reached them.

We Changed The Approach of Our On-line Auction

Initially we designed our On-line Equipment Auction specifically for auctioneers of various equipment with emphasis on new used equipment and machinery for construction, agriculture, deep drilling, mining, manufacturing and industrial markets. After our little test we decided to no longer be a marketplace for auctioneers to promote their upcoming auctions. Instead, the site will be utilized as an auction for anyone seeking to buy/sell equipment. That’s right. Why pay an auctioneer a sales commission or consignment fee when you can utilize our on-line auction to sell your equipment free-of-charge. Buyers too will save because they can bid on new and used equipment from sellers all over the world. I’m confident the Web is the future for auctions of all types and those not willing to accept that fact will be left behind.

The bottom line is auctioneers not using the Internet to promote their auctions and generate on-line bidding activity are not out in the best interest of their clients. Every auctioneer knows, the more bidders at a auction and the increase profit for the seller. If you’re selling equipment at an auction and the auction company is not utilizing the Web, you could be losing hundreds to thousands of dollars. Believe me, if there is one thing you remember out of this entire post, make it this: On-line and Off-line Auctions go perfectly together because everyone involved benefits. Bidders get more equipment options to select from and sellers (due to more bidders) increase their profit potential. Sure, there will always be a place for physical auctions. But if the auction company is truly client-centered, they will make sure to allow on-line bidding and do whatever it takes to promote the event both on and off the Web.

Do People Bid On High Ticket Items Such As Heavy Equipment?

There is a myth in the auction industry that has been going around for several years now and that is most people will not bid on high ticket items on-line. Well, although it’s true a lot of people are hesitant about bidding online for a product values thousands of dollars such as a backhoe, tractor, machinery or other high priced equipment. However, there are just as many people that do bid on such items. The myth probably started in the auction industry itself, most likely by traditional-minded auctioneers that refused to grasp the Web as an auction resource. It’s true during the initial days of on-line auctions higher ticket items such as heavy equipment lacked a significant amount of bids. But that is natural since the Web at the time was still a phenomenon people did not fully understand not realize its potential. Today, high priced items are sold on the Web in record numbers, including all kinds of heavy equipment, industrial machinery and allied products. For example, look at MFG, the leading on-line manufacturing marketplace. Although not an auction, it generates millions of dollars worth of transactions from buyers and sellers of custom manufacturing services. Indeed, the Web has come a long way as a marketing platform and on-line auctions in a number of industries are leading the way.