Potential clients often ask: How is your auction approach different from everyone else’s? In this CRA Insights, we discuss our client-centric approach and how we customize the best auction format based on the client’s objectives.
In many cases the bidding formats used by current online auction sites are not the best option for attracting participants and for maximizing value. An example is selling a portfolio of products related in value. In this case an auction format that encourages bidders to bid on multiple items at the same time within bidding rounds likely would result in a better value to the seller if designed correctly. Enabling bidders to create and price their own packages of items will increase the prices they are willing to bid and pay.