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GA Global Partners uses proprietary software to offer the sale of assets exclusively online in an automated format. Once registered and logged into the bidding module from GA Global Partners’ website, buyers can search for a particular asset or scroll through the assets on offer. Buyers enter their bid next to the desired items or lots, with the system automatically notifying them if they have been outbid. Buyers also have the option to set a maximum bid, allowing the system to automatically bid on the buyers’ behalf. As the software is proprietary in nature, the online auction can be tailored to each client’s needs.
The online auction format works well when companies have limited idle assets in multiple locations, for example, and the cost of a live auction may not be justified. In addition, clients can assist in the sales process to control sales expenses, creating a cost-effective asset liquidation.