The rise of the online auction

Aug 24, 2020 | Jewellery, Watches

The online market for luxury items, such as watches, cars, art jewellery has seen a massive increase with everybody locked in their homes in many case still earning an income, many are seeking a way to keep their businesses alive. More and more people have come to realise they can buy these items online if they trust the seller. It also opens up the world to trade as more and more markets are being opened, the love of luxury items spans the globe. In this article, we find well-known names that are good to trust as a first exploration.

Sotheby’s online

Long-established names like Sotheby’s are stepping into the new market. Everyone would feel better buying a watch or car from them rather than a stranger on eBay. They also offer auctions as well as private sales.

They are currently offering weekly deals on watches from around the globe. They still hold face-to-face auctions that follow social distancing guidelines or keep it 100% online. The great thing about an online auction for the seller is it opens a new world of customers up to the seller.

Recently they sold a Patek Philippe Nautilus, ref. 5711 in platinum with blue jeans dial, circa 2014 for HK$ 3,750,000 (US$ 484,000) to a customer in Hong Kong.

If you want to take part in their weekly auction of watches, you can find it here.

Fellows.co.uk

Established in 1878 Fellows has done a lot to change with the times. One often hears from traders in watches, jewellery antiques that one of the major issues right now isn’t finding customers but finding good affordable stock. With three auctions a week, with hundreds of lots, Fellows certainly has a lot of stock to browse. They will also sell at auction for you.

Fellows is both online traditional. Based in Birmingham, you can go see the goods bid in person, or if you like, you can bid online have all items delivered to you. They are great examples of a very old business changing with the times. They have upcoming auctions for jewellery, watches, pawnbrokers lots more. They also have zero bid fee charge.

Ebid – for sellers

 

Many of our readers are in the trade, selling as well as buying watches, jewellery, art, gold, diamonds other things. A lot of selling platforms, such as eBay itself, end up charging the seller almost 15% by the time it is sold. This makes selling low-cost items, uneconomical also makes the items more expensive for the buyers.

In an aggressive move to expansion, ebid, now offers a great deal for sellers. For only £69.00 you can register as a seller plus list any item with a zero per cent fee. This is great for sellers with a tight profit margin, as most jewellery has, It is also great for any items sold at a lower cost on a regular basis.

If you buy at an auction, we also offer auction payments.

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