Evolution of Auctions: Embracing Online Platforms and Ethical Excellence
In this episode of the No Reserve podcast presented by BidWrangler, host Tim Peters welcomes John Nicholls, President of Nicholls Auction Marketing Group. Peters and Nicholls discuss the evolution of auctions from traditional live events to modern online platforms. They also emphasize the convenience and efficiency of online bidding, contrasting it with the challenges of traditional live auctions held under tents in extreme weather conditions. Listen as they share insights on the importance of collaboration, mentorship, and ethical business practices for young auctioneers.
Key Points:
Shift to Online Auctions:
Highlighting the preference for online auctions due to their convenience and flexibility compared to traditional live auctions.
Efficiency and Convenience:
Discussing the benefits of online bidding, such as the ability to preview catalogs online and bid from anywhere, anytime.
Adapting to Technology:
Encouraging auctioneers to embrace modern technology and stay updated with industry trends.
Collaboration and Mentorship:
Advocating for collaboration, seeking mentorship, and learning from established professionals in the industry.
Ethical Business Practices:
Stressing the importance of maintaining high ethical standards, returning communications promptly, and treating customers with respect.
Industry Involvement:
Encouraging participation in industry associations and continuous learning to improve auctioneering skills and stay competitive.
Focus on Impact:
Emphasizing the significance of making a positive impact, helping people, and focusing on customer service over purely financial gains.
Quotable Moments:
"It's about impact, not income, impact, impact, impact. Change people's lives, help people."
"Surround yourself with the best. Have character. Focus on impact, not income.”
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