When the Bidding Stops: AuctionZip uShip Deal Addresses Online Auction Buyers’ Big Frustration

When the Bidding Stops: AuctionZip uShip Deal Addresses Online Auction Buyers’ Big Frustration

AUSTIN and BOSTON – July 9, 2013 – For years, auction houses have opened their doors to online buyers. Yet few have adequately addressed the “Now what?” question virtual buyers invariably ask when faced with shipping after winning an item.

A partnership between online auction marketplace AuctionZip and uShip, the online shipping marketplace, is making the post-auction experience more e-commerce friendly for Internet-based buyers by placing uShip’s Shipping Price Estimator^tm directly within Lot Detail pages on the Artfact network of Web properties, including Artfact.com, Auctionzip.com and Invaluable.com.

Customers now see approximate shipping costs based on comparable item, weight and distance moves on uShip, and then within a few clicks, can connect with thousands of feedback-rated service providers in uShip’s network to get their item moved, whether it’s decorative arts, antiques or collectibles.

uShip’s marketplace connects people with transport companies that competitively bid to win business. Carriers use uShip to maximize their loads and fill extra truck space at deeply discounted rates, helping customers save an average of 50 percent over traditional rates.

“We heard from our customers that they wanted a way to determine shipping costs and get their items moved after winning. Our partnership with uShip gives them an easy and affordable way to do that,” said Josh Hale, vice president of product & marketing, AuctionZip.

“uShip’s Shipping Price Estimator can serve as a pricing barometer specifically for AuctionZip customers who may not be aware of the cost to transport auction items. It offers a reliable source for that information and gives them access to trusted service providers who understand what it takes to move larger-than-parcel deliveries,” said Philip Strohl, vice president, business development at uShip.

Items are already rolling in for the July 4th annual sale. Nice coins, several Colt firearms, Beautiful old furniture and many more nice items. Be sure to check out the pictures. Tomorrow we will be getting pictures for the April 19 estate auction. Be sure to check them out at www.aaauction.net in the coming days.

Sell through percentage

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In leading auction houses what is considered a good percentage of 'lots sold' per sale?

Aaron Edwards, Media & Marketing Coordinator at Brunk Auctions 

Votes by Marc Bodnick, Yair Livne, and Cody Reid.

There are several variables that factor in to the percentage. I can not speak for Christie's or Sotheby's, but I do work for a reputable auction house in the Southeast US with an international clientele, and we normally average 95% to 92% of lots sold.

One of the major factors to consider when determining this percentage is reserve price. Without a reserve price, several unsold items would likely sell for less than the consignor are willing to let the item go for. Auction houses with higher reserve prices are likely to have more passed lots. Also, if the estimate is initially too high, bidders will be less likely to compete or even bid on that item.

The item as it relates to market interest is also another factor in percentage of lots passed. For instance, if an auction is heavy on low-end Asian antiquities in the current market, more lots are likely to pass than say some of your best works by American Impressionists.

Overall, auction houses will try to sell every item, as it takes a considerable amount of resources to locate, ship, handle, provide condition reports, catalog, photograph, and market items. Passed lots are basically lost money and wasted time.