The feature allows bidders to log into IronPlanet and bid alongside on-site auction customers in real time. The announcement comes just more than a week after Ritchie Bros announced that it will acquire IronPlanet for $758.5 million. Ritchie Bros. has allowed live online bidding at its on-site auctions for some time.
However, IronPlanet says a key element to its LiveStream bidding is that it will allow customers to place PriorityBids. This will allow online bidders to set a maximum price they are willing to pay while the IronPlanet system automatically places the lowest bid amount required for them to win.
LiveStream bidding will also allow online customers to hear and see the on-site auctioneer, view inspection reports, add multiple machines on the auction block to watch lists and set up one-click bidding.
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