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Live online auctions reflect trends in trust and confidence

16 April 2013Written by ATG Reporter

ATG’s sister operation, the-saleroom.com, is the UK market leader in providing live online auction platforms and reflects the upward trends.

As such, it has been able to provide a broad set of statistics to show the growth in importance of live online bidding through its systems over the past couple of years.

Key market indicators comparing year-end figures for March 2013 to March 2012 include:

• a 28% rise in the number of sales offering live online bidding, from 1,984 to 2,542;

• an 18% rise in the average number of live online bidders registered per sale from 166 to 195;

• a 41% rise in the number of lots sold via live bidding online from 257,824 to 363,736;

• a 39% rise in the value of lots sold via live online bidding from £41m to £57m (the equivalent to about 10.5% of all global online sales of art and antiques by the measure of ArtTactic's survey);

• a rise in the average proportion of lots sold via live online bidding from 23% to 26%; and

• a rise in the average proportion of lots underbid via live online bidding from 15% to 16%.

ATG Media's chief operating officer Richard Lewis said: "Much of what ArtTactic have unveiled in the Hiscox survey tallies with our experience of increasing confidence in the online marketplace at the-saleroom.com.

"If you are able to offer what people want, make it easy for them to take part and follow it up with first-class after-service, you will capture a loyal following.

"As technology and our understanding of its potential has developed over the past few years, so have public attitudes and confidence, and many people across all age ranges have a much more sophisticated approach to e-commerce now. We fully expect online sales to continue to expand rapidly."

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