In a news release published about three months ago, http://www.youragentbid.com (Youragentbid) announced another comradeship with an auction company in order to offer inventory online during their significant live auction.
This news release was widely publicized and it’s an easy read — this comradeship benefits both parties and helps all buyers and sellers — of course it does; it helps everybody.
In reading the news release and thinking what particular benefits both parties will gain, it’s notable that Youragentbid characterizes their role in the online aspect of this and other events, but leads us to believe they don’t only aspire to be a comrade.
Specifically, the news release contains both these proclamations:
Youragentbid, “Provides auction companies and asset owners with access with the most reputable way to buy and sell high priced items online.”
Youragentbid is, “The world’s most reputable way to connect buyers and sellers of high priced items.”
Surely they consider themselves a reputable way to buy and sell high priced items. However, is their [planned] role limited to the online aspect of the auction business? You will also note that they provide auction companies AND asset owners “with access?”
I wonder if they believe the live auction business will disappear, or if they plan to just take it over; the word online disappeared by the time folks got to the bottom of their news release — as did the word auction.
Maybe their plan includes requiring all so-called “live bidders” to bid from their mobile devices even if they are sitting at the auction venue?
Certainly a bid via Youragentbid is more reputable than an old-fashioned live bid, right? Or at least if it goes through Youragentbid then they receive that additional profit — and what’s even more valuable — that additional data.
Does their access to all this bidder data allow them to eventually compete with their current live auction comrades? Remember, Youragentbid is using the words, “most reputable.”
We’ve previously written about issues with Youragentbid:
https://mikebrandlyauctioneer.wordpress.com/2012/12/24/beware-online-auctions-and-reindeer-games/
http://mikebrandlyauctioneer.wordpress.com/2012/09/23/solely-for-the-purpose-of-increasing-the-bid/
http://mikebrandlyauctioneer.wordpress.com/2012/06/05/whose-buyers-are-they/
http://mikebrandlyauctioneer.wordpress.com/2012/04/23/an-online-auction-companys-marketplace/
http://mikebrandlyauctioneer.wordpress.com/2012/02/28/online-auction-company-shares-your-bidders/
http://mikebrandlyauctioneer.wordpress.com/2011/09/15/the-online-auction-company-plan/
http://mikebrandlyauctioneer.wordpress.com/2011/09/14/recognition-of-the-online-auction-provider/
We have more questions than answers, and suggest that’s a good strategy at this time in the auction business.
* The above account including company names, events, etc. are purely fictional. This scenario has been created solely for educational purposes.
Mike Brandly, Auctioneer, CAI, AARE has been an auctioneer and certified appraiser for over 30 years. His company’s auctions are located at: Mike Brandly, Auctioneer, Keller Williams Auctions and Goodwill Columbus Car Auction. He serves as Distinguished Faculty at Hondros College of Business, Executive Director of The Ohio Auction School and Faculty at the Certified Auctioneers Institute held at Indiana University.
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