Foal Auction Prinsjesdag taps into new market with online bidding system

On September 11 and 12, customers of Foal Auction Prinsjesdag can bid online. Nothing new, some will think, but they are wrong. The bidding engine works without any delay, and that is unique in the world of online auctions.

The technology has been developed for the real estate market by it-company WeAuction. Here online bidding at auctions is a common thing already. CEO Paul Rijk; “We are convinced that for a successful online auction system you have to bring the experience from the auction venue to the online users. We stream the auction and will make the sound of the auctioneer leading. Delay on the line was always the problem if you wanted to combine online and real-time auctioning. The images of the live stream are a delayed for a few seconds compared to what is happening at the venue. With our system, that delay is nil. This means that customers really have the same chance online as people in the audience.”

Automatic bidding (also called Robot bidding) is not possible with the system. Rijk; “No, that is very conscious. Bidders see the live images and than decide whether they want to bid. They can anticipate on what they see and hear, just like people in the audience. When an offer is placed online, the audience can immediately see who it is coming from. “This creates a battle between bidders via the internet and the venue.”

Huge track record

With more than 10,000 objects sold with a total value of more than 1.3 billion euro, the company is no longer a newcomer. At the auctions the company is involved an average of 39% is currently sold to online bidders. “We started with real estate auctions in 2008, but we have successfully completed a number of foal and horse auctions. We strive to offer the fastest and most reliable bidding system in the world. If you decide not to come to the auction, you must be able to trust the bidding system so that you do not miss anything. I predict that the combination of online and offline auctioning is the future.”

From the real estate world

Foal Auction Prinsjesdag chairman Arjan van der Waaij; “Time is changing and our auction has the ambition to remain innovative. This system is very easy to use. It’s clear and transparent. All information we need from buyers is registered and different bidders can easily bid simultaneous on a foal.”

Interested parties can register via the website of Foal Auction Prinsjesdag. Once they have been approved by the organization, they can log in via the site. The system works on any telephone, tablet or PC with a good internet connection. There is a help desk on both auction days to answer questions about the system.