Commodity Auctions
The Auction Marketer platform has been customised to work for auctioneers looking to sell commodities at auction. This is typically managed via a closed trade auction, that utilises our real time live bidding software without the use of video and audio.
The auction trading platform is designed to allow easy clerking of a high volume low increment auction to a series of trade / institutional bidders globally, so zero latency is key. Bidder views typically include a lot of real time calculated data to support bidder decision making on the spot.
The auction trading platform is powered by a customised version of our proven BidstreamTM live bidding auction technology.
What is a Commodity Auction?
It's a high volume, low increment realtime auction that emulates a trading platform rather than a traditional auction. British Wool chose Auction Marketer following a lengthy tender process for their bi-weekly wool auctions that transact over 25 million kilos of wool a year, sold globally because we could build the solution to match their specific operational and buyer requirements.
Typical use cases for this technology include standard commodities or contracts, but it can also be employed for emerging auction categories such as fractional ownership and NFT marketplaces where it lends itself to investor proof of concept and rapid prototyping.
Commodity Auction Software
Commodities are complex and bidding needs to be live, fast and easy.
The commodity auction platform developed by Auction Marketer is designed to allow bidders to bid up in small increments and to clearly show important metrics such as the current bid, next ask, whether the item will sell at the current price and what the average price per unit of weight (spot price) is of other matching lots that have sold.
All of this data is calculated and displayed in real time allowing buying decisions to be made quickly.
PostBid - After Sale Offers
The commodity auction platform allows for unsold commodities to be reoffered post auction in a timed online auction session.
This provides approved trade bidders with the facility to make new offers for unsold product governed by a strictly time limited window.
Offers are considered by the platform operators and if acceptable the commodity is sold at the offer price.
"We selected Auction Marketer to be our partner after an extensive tender process. The purpose of the project was to offer a high degree of flexibility to customers through offering online auctions”
Andrew Hogley - CEO British Wool
Trade Only Auctions
Our commodity auction platform was designed from the ground up to deliver a public face of the auction operation, but only to allow approved registered trade bidders to access the actual auctions
The trade only option gibes the auctioneer completed control of who can bid open which auctions and even which individual lots.
2 Factor authentication is available as standard for all trade user logins to ensure that an extra layer of security is in palce when users login to the auction platform to begin bidding sessions.
Vertical Ready Out of the Box
We’ve been transforming auctions and adding value to our auction partners since 2006 by designing and building our platform to work for all verticals. No more trying to make an industrial platform work for fine art or a fine art system for classic vehicles! Take a look at the auction technology designed to service multiple verticals...
Book your demo
Ready for a discovery session? Unhappy with your current solution? Worried about changing solution? Get in touch with us to experience the power of Auction Marketer and join some of the fastest growing auction businesses already using this auction technology.
Call us on: +44 (0) 1604 695800
Email: info@auctionmarketer.co.uk
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