As summer approaches, online bidding heats up

NEW YORK – Online bidding for traditional auctions continues to flourish, with LiveAuctioneers.com reporting a significant increase in both Web site traffic and Internet sell-through rates of auction lots in May 2008.

A key destination for online participation in auction events worldwide, LiveAuctioneers.com provides Internet bidding capability to more than 700 auction houses in 13 countries, in conjunction with eBay Live Auctions.

Since eBay’s April 15 announcement regarding the Dec. 31 discontinuation of its Live Auctions platform, LiveAuctioneers has seen traffic to its Web site quadruple, the auctioneer reported in a press release. In addition, online sell-through of auction lots listed on the Web site has risen dramatically, with auctioneers who post auction catalogs on LiveAuctioneers.com noting an increase, on average, of 4 percent. The average online sell-through for traditional auctions that also include an Internet component is now roughly 25 percent of all lots listed, the release said.

“Having facilitated more than 80 percent of all auctions conducted on eBay Live Auctions over the past six years, it is our intent to not only essentially inherit the platform at year end, but to continue to grow and enhance the business,” LiveAuctioneers founder and CEO Julian R. Ellison, said in the press release. “As evidenced by May’s growth, millions of buyers and collectors consider LiveAuctioneers.com the premier gateway to the world’s finest auctions – providing instant access to everything from antiques and fine art to industrial equipment and land.”

Traditionally for LiveAuctioneers.com, June is one of the busiest auction months of the year. LiveAuctioneers.com currently lists over 100,000 lots up for bid at more than 250 auctions. Through the Web site, visitors in any part of the world can view fully illustrated auction catalogs and place

Internet bids, either live or absentee, in any of these sales.

Founded in November 2002, Manhattan-based LiveAuctioneers.com provides real-time Internet bidding capability to 700 auction houses in a dozen countries. For more information, log on to www.liveauctioneers.com.

COMMENT