Bidders on eBay.com understand that most bidders find items when only a few hours remain, the day of the auction. With live auctions however, the day of the auction means all absentee bids are halted and bidders are forced to sit through the entire auction to bid on their favorite item using a live java bidding template, which can take all day. This could be the reason why only a fraction of eBay bidders have even tried live auctions. “Those bidders are missing the boat”, offered Andy Stone, CEO with AuctionFloor.com, “the live auction business is a $256 billion dollar business selling millions of items from box lots to large estates internationally, items not found in timed auctions”

On Oct 25-26 Heritage’s Marketplace auction has a big red BID NOW button on each lot posted on eBay.com. Bidders for the first time are allowed to just leave a bid within a few minutes of the item selling. “This is just the tip of the iceberg”, stated Michael Whelchel, CTO and co-founder of the company which started all this back in 2001, with CatBecca Auctions”.

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Posted: 10|26|06 at 8:59 am. Filed under: eBay Auctions.