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INTERBID LIVE
Broadcasts an existing auction over the Internet

People on the Internet can bid as well as those present at the auction.

Description
An auction clerk, called the webcaster, who is typically present at the auction with a computer connected to the Internet controls Interbid Live. The webcaster relays all the auctioneers calls to the people on the Internet. A mouse click or a tap on a touch screen is all it takes to change the lot or increase the offer price. The connection to the Internet can be as simple as a notebook computer and a mobile phone or a computer built in to the auction room with permanent displays for the auctioneer and the crowd.

Two major speed advantages

F.A.P. Uses the patented Fast Auction Protocol for lightning fast communication across the Internet.
Bid Stack Incorporates the Bid Stack that enables bidders to set limits and have Interbid Live bid for them instantly.

Live audio streaming
The same communication system is used to enable bidders to hear the auctioneer via Internet audio streaming with the minimum delays. Interbid webcasts attract an average of 40 people watching and bidding online.

Computer auctions

Second hand computer auctions have proven an ideal market for Interbid Live. We have webcast 200 of these auctions with excellent clearance rates and an average of 25% of lots selling on the Internet. These auctions tend to be to fast around 140 lots per hour, which Interbid Live can handle readily. These auctions are ideal for webcasting because they attract computer savvy bidders who are comfortable bidding on the Internet and because a computer can be readily bought based on a photo and a description in an auction catalogue.

General auctions

Interbid Live's dramatic speed advantages means it can be used for a wide range of auctions. Interbid Live is the only system suitable for all government and corporate disposal auctions; it is the only system that can handle fast auctions of computer, catering and office gear. The Interbid Live broadcast system is fully portable and can be used for on site auctions.

Automotive auctions

Again Interbid Lives speed advantages mean it is the the best system for keeping up with car and truck auctions. Increasingly cars are being bought and sold for interstate markets, Interbid Live can save people having to travel to auctions, which is very important, these days. Also it enables dealers to bid from their car lots, rather than take time out to attend an auction. If only dealers should be able to view or bid at an auction, it is easy to restrict Interbid Live so the auction is only available to registered bidders.

Art and antique auctions

With Interbid Live there is no need to slow the auction down when people are bidding from the Internet. Also if people can be encouraged to use the Internet rather than the phone you can save money on supplying clerks to man the phones and avoid the auction slowing down when people are bidding over the phone. There is a version of Interbid Live designed to handle the fixed increment type of bidding used at art and antique auctions. That is, it can be set for example to automatically change from $10 increments to $20 at say $200. So to broadcast a call of $180, $190, $200, $220, $240, etc. all the broadcaster has to do is to keep clicking the same button.

Catalogues

Interbid Live is designed to run straight off auction houses existing catalogues on the web, without the need for any modification. Interbid Live will also find and use any thumbnail or full size pictures of the lots. In most cases Interbid Live can pick up all the information it needs to run straight of the auction houses existing web site.

Dynamic Lot Display

The dynamic lot display runs automatically off the webcast, it displays the lot number, a picture of the lot, its description and the progression of the biddding to the people at the auction rooms.

Servers

In addition to the program for the broadcaster at the auction, a major part of Interbid Live runs on a central auction server. This server has to be very well connected to the Internet and so is generally located at an Internet Service Provider. Auction houses have the choice of setting up their own servers or renting time on Interbid's server. Interbid has a server located in Adelaide, South Australia and plans to install more servers in the near future.

Conclusions

Imagine having an extra row or two of bidders at all your auctions, the sucess of online auctioniung has proven that people want to bid from their homes and offices. Webcasting combines the excitment of a live auction with the convience of Internet bidding. Webcasting is very attactive to sellers; it is simply the future of live auctions.