The auction industry was uniquely positioned to weather the pandemic storm. For the first month after COVID-19 hit, some auctioneers saw a surge of 200 to 300 percent in online auctions.
Thomas Blackmon
Blackmon Auctions of Little Rock began conducting online auctions in 2007, so the transfer last year to online only was seamless, company president Thomas Blackmon said.
“The issue we ran into was trying to keep people from wanting to come and inspect the equipment in person,” he said. “That was a new problem that had never been dealt with during previous auctions. We also had to put into effect new ways to pick up items and drop off items. Contactless delivery became a thing.”
David Brewer
David Brewer, president of Wilson Real Estate Auctioneers of Hot Springs, said utilizing the company’s app for online auctions, beginning in March 2020, was a game changer.
“We now have over 5,000 app users across the country bidding on real estate, equipment, cars and much more,” he said. “The pandemic made us move into the new era of technology, and we were fortunate we were ready to have our app take off in a dramatic way. We have seen bidder registrations increase by over 200 percent for our auctions.”
Blackmon is grateful to be returning to “business as usual.” With the pandemic seemingly under control, in-person auctions across the states Blackmon serves have been picking up. Southern customers, especially, were “finished” with COVID restrictions even before 2020 came to a close, he noted.
“Our customer base followed the rules with masks and social distancing, but they also continued to work and function on a daily basis,” Blackmon said. “My clients are made up of the people that make the world go round. They build, they buy, they sell, they scrap, they invest, and none of that stopped during the pandemic. Now that restrictions have lifted and vaccines are common, we are seeing large crowds come back to the auctions.
“We are still selling a significant amount online, but the live crowds are getting bigger. We still see masks and social distancing from some people, but most are back to business as usual.”
Blackmon said when the quarantine was at its strictest and people were forced to stay home, online auctions allowed people to still buy and sell from the comfort of their living room or home office.
“We’ve always had a good following online, but the pandemic accelerated that need to buy via computer and phone. As one contractor told me, quarantine doesn’t change the fact that he is on a strict construction timeline. Concrete still had to be poured, and buildings had to be built. Everyone had to adjust.”
Brewer said his team adjusted by transitioning everything — auction, real estate, equipment, cars, trucks — through the app.
“Bidders love being able to buy from their office, homes or wherever they may be when the auction is ending,” he said.
For now, auctioneers will continue to ride out a seller’s market.
Now is the time when an auction really shines, Blackmon said. “Instead of selling for your asking price to the first person who calls, auctions put your property in front of hundreds of thousands of people and let them decide the sales price.”
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