Online Auctions

An online auction sale is a sale of assets that takes place exclusively online, without a live auctioneer calling the sale. Similar to an “eBay-style” timed event, assets are placed online using our proprietary software, and buyers can bid on lots/items for a set period of time 24 hours a day.

This scenario works well when companies have idle assets but not enough to justify the cost of a live auction. Utilizing this selling strategy, Great American Group can even accommodate multiple locations with limited assets. Clients can assist in the sales process to control sale expenses, creating a cost-effective way of asset disposition.

The online auction format was designed using years of actual industry experience. By basing our online auction service off of this model, Great American is able to offer higher recovery values and realistic solutions to online asset disposition. And because of our proprietary format, the online auction can be tailored for any client’s needs.

The buyers register for the online sale and log into the bidding module from our website. Please note that it is also possible to add the bidding module link to the client’s website if they so desire. Once the buyer is logged in, the buyer can search for a particular asset or simply scroll through the assets being offered. Bids are entered by typing in the bid amount next to the pertaining lot. The buyer also has the option of setting a maximum bid amount. This allows the system to bid automatically on the buyer’s behalf. The system will also automatically notify the buyer if the buyer has been outbid.