Whether you attend them or not, it’s likely that you know a thing or two about auctions. There has been a rise of television shows in recent years that deal with auction culture in its many forms (storage units, pawned items, etc.). What you might not know is that auctions are a multi-billion dollar industry, or that online auctions are increasing in popularity. Online auto auctions in particular have become especially popular.
Online auctions allow many more people to attend auctions by being there virtually. This increase in auction attendance has created the need for better auction technology, specifically inventory management and analysis software, so that auction companies can keep track of the items being bought and sold in real time. Simulcast is a great example of this analysis software.
What is Simulcast?.
Simulcast is an inventory management and analysis software that allows people virtual access to physical auctions. Buyers and sellers can see a huge inventory of items for sale. These items can come from a variety of places: business and government surpluses, liquidations, bankruptcies, and so on. Simulcast provides online access to these items up for auction, allowing buyers to bid anonymously online against other bidders in real time.
Benefits of Simulcast.
What’s great about Simulcast auctions is that you don’t need to be near an auction to bid on items. From the comfort of your own home you can bid against others for a variety of items. Simulcast allows a larger platform for buyers and sellers, which benefits them both. For sellers, they can reach more potential buyers. For buyers, they have access to a broader range of products than they would otherwise, meaning they can find exactly what they’re looking for at a reasonable price.
Manheim Simulcast provides an online inventory of automobiles up for auction. Buyers have access to a massive nationwide catalog of cars up for auction. Information on these auctions are often put up a week or so in advance so that potential buyers can plan their bids. This makes the auction process much more efficient and far less stressful.
You don’t need to attend an auction or even live near any to be a part of the auction action! Simulcast technology allows anyone with internet access to compete with others for the best price on quality products.