The Best Of Both Auctioning Worlds: Auction Network

An auction network has elements from both the online and live auction world - the combination may be the best of both worlds. Someone brings something to one of the many auction houses in the United States. With an auction network, the item is scheduled at one of the auctions in the near future. The items are also up on the website of the auction house for registered bidders to log into and look at or go to the auction house in person to inspect the item. The auction house’s web site gives the items more exposure than they would normally get if the auction items were just listed in the local paper. The bidder can do one of two things: they can bid in real time but then they may as well be there in person to ensure no mishaps with connection and speed; or the other option is to put a stop bid on the item, meaning a bid will be placed up to the amount specified by the bidder - if bidding goes below the final sale amount the bidder will pay less than the high bid.

If bidding goes over the highest stop bid amount the buyer will not receive the item. This method is convenient in a few ways; the seller knows that the item will be paid for in a timely manner, which is no guarantee on online auction sites like ebay. This works in the opposite in that when the item is paid for it will be delivered. This is guaranteed because the auction house is the human mediator while with an online auction there is no mediator between the two parties ensuring the transaction is fast and satisfactory to both involved. It may be a little more in cost to send it to an auction house but you get for that extra cost the reassurance that the transaction will be complete.