Online auctions really click with bidders
Mari Gibson Domain Sunday Editor
April 11, 2009
Welcome to live auction webcasting.
PTY Auctions is the company behind the technology, which managing director Gavin Stuart says is a winner in today’s climate as it gets “every bidder in the room”, even if they are in Melbourne, London or Dubai. Mr Stuart says www.ptyauctions.com.au differs from most online auction sites because of its webcasting, which is used by several of Sydney’s big real estate agencies, including Century 21 and PRDnationwide. It has a database of 100,000 expatriate potential buyers.
Online bidding is another tool buyers can use to research and buy a property without having crossed its threshold. As well as virtually walking through homes via online videos, buyers can look at aerial views with Google Earth and check out the neighbours by going to maps.google.com.au and clicking on “street view”.
Century 21 Cordeau Marshall director Craig Marshall said online bidding replaced “the old days” of bidding at auction through a third party over the phone, and was convenient for time poor or nervous buyers.
Mr Stuart has held 500 webcast auctions since 2007. Bidders watch the auctioneer, and bids are displayed on their screens.
David Van Es and his wife, Suzie, sold their house in Wahroonga last year when an online buyer in Melbourne made the winning bid of $611,000 for their Havilah Avenue property.