Auction Floor, Inc. (aflo.pk)
Internet
- Huge Untapped Market: The total number of auction houses worldwide is currently in the neighborhood of 16,000, tallying annual sales of $257.2 Billion in 2006 (Source: EQUITIES Special Situations). By contrast, the number of active auction houses online is still only about 500. Auction Floor is convinced that live auctions could substantially benefit from the expansive additional visibility and flexibility provided by the Company's proprietary A/F/Live Auction Platform, enhancing the performance of this already robust sector.
- Building Partnerships: Auction Floor believes that a strong network of partnerships is critical to its success, and has the potential for significant mutual benefits. One of the main affiliations that the Company has formed is with the Internet auction giant eBay. Auction Floor's platform has a unique connection to the eBay Live servers. eBay Live features a special link to www.auctionfloor.com, allowing the Company to benefit from the buying power of eBay's 165 Million users. Also, Auction Floor's innovative platform avoids the issues associated with many Java-based consoles. In addition to this significant partnership, Auction Floor is already aligned with Heritage Auction Galleries, the largest collectibles auctioneer in the world, and Absolute Auctions and Realty. Most recently, Ohio-based GoAntiques, currently listing more than 45,000 items, has committed to implementing the Company's technology in 2007.
- Tremendous Growth: Even with the remarkable rise of online auctions, the live auction industry's revenue has continued to grow at a remarkable pace. Overall industry revenues rose $17.0 Billion in 2006, from $240.2 Billion to $257.2 Billion, an increase of 7.1%. In addition, the value of goods sold at auction grew $61.9 Billion in just four years, from $195.3 Billion in 2002 to $257.2 Billion in 2006, a 31.7% increase over a four year span (Source: National Auctioneers Association). As more and more goods are purchased and sold through auction, the ability of a company like Auction Floor to enhance efficiency and increase participation will be highly sought after in the auction industry.
- Successful Technology: One of the factors critical to the success of Auction Floor is the capability to provide effective, reliable technology solutions to its clients. In March of 2007, Auction Floor successfully completed its first "live auction" in the large industrial equipment category for the food services auctioneer Prime Equipment Auctions. The Company reported that 46% of the available lots were sold online, more than three times the industry average of 15%, clearly validating the claims of the Company in the superior functionality of its A/F/Live Auction Platform.
- Online Surge: Even as the traditional auction industry has grown, online auctions have exploded in recent years. Sales through online auction were expected to account for 29% of all e-commerce in 2002 (Source: Kaiser, 2003), and eBay tallied $2.17 billion in revenue for 2003 with a net income of $441.8 million (Source: ebay.com). Online shopping has become a significant venue, with total sales reaching an all-time high of $65 Billion in 2006 (Source: EQUITIES Special Situations). As the growth of e-commerce continues, online auctions are becoming an ever-more accepted form of transaction, and types of goods that have resisted the transition to online platforms appear poised to accept this market shift. Auction Floor's technology provides a strong complement to traditional live auctions, and the Company is positioning itself to take advantage of this shift towards e-commerce.
Company Contact Information
P.O. Box 6216
Scottsdale, AZ, 85261
USA
- Phone:480-905-3178
- Fax:n/a
- E-mail:info@auctionfloor.com
On-line contact form
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