An national auction house based in Sussex is to launch what it claims is a world first for the housing sector – fully real-time interactive property auctions.
During the digital realtime streamed property auctions bidders will be able to exchange on each property at the ‘fall of the gavel’ hosted via a TV format similar to the way QVC sells clothes and hoovers.
The company behind it, Connect UK Auctions, is to hold the inaugural sale on Friday featuring 12 properties, although it expects to have more to sell at the next auction a month later.
Fronted by BBC and Channel 4 presenter Adam Partridge of ‘Flog It!’ fame, the monthly auctions will feature direct interaction between him and bidders as each lot goes through.
Taking a risk
A spokesperson for Connect has told The Negotiator that the company is aware of the risk it’s taking with the innovation and that no one ‘has dared do it’ until now.
Available initially via a webpage and streamed live, Connect reveals that it is also preparing a smartphone app through which people can bid online during the auctions.
Called Connect Realtime, the events will be in addition to the company’s traditional auctions and Connect will pre-register and vet bidders beforehand.
“Until now online auctions have just been streamed video of existing traditional auctions to enable telephone bids, whereas during our Connect Realtime sales they will be part of an interactive audience of bidders who will be spoken to directly by Adam,” a company spokesperson says.
“We believe the potential is global and huge – the market is no longer restricted by who is in the auction room; expect a shift in the industry, imminently.”
- After representations from several auction houses who claim online auctions such as this have been around for some time, please note that it is the TV-style direct-to-camera element of the auctions that Connect Auctions believes has not been attempted before.