Appraiser Workshops: Skinner Announces Fixed-Time Online Auctions

Skinner has announced they will start using a new online timed auction platform for select auction times. The auction will run for more than one week and they will start the programs with a Fine Wines sale starting on May 3. The rationale for the select new online format was due to demand by clients and also being able to offer more lots than what can be handled in the live format. For the fine wines sale bids will be accepted in $25 increments and any bids made within the last five minutes of the auction time will be added in five minute increments.

These types of fixed time sales were used years ago, I remember bidding on some of the Sotheby's online fixed time sales which were held in conjunction with regional auction houses. It will be interesting to see if Skinner is successful with the new bidding format and if other important houses follow suit.

Skinner reports on the new auction format for select sales

MARLBOROUGH, Mass – Skinner, Inc., a leading full-service auctioneer and appraiser of antiques and fine art, today announced a new timed auction platform, which will debut as a part of Skinner’s upcoming Fine Wines auction starting May 3rd. Also known as a ‘timed auction,’ a portion of the upcoming sale will be offered in the new online-only format starting on May 4th and will run for more than a week.

Demand for Fine Wine and other specialty material is driving the need for the expanded online format. According to Karen Keane, CEO of Skinner, “The introduction of the fixed-time, online format was in direct response to customer demand.” Keane continued, “Timed auctions allow us to offer more lots than is possible in the live auction format, providing benefit to both consignors and buyers. It also allows us to engage prospective buyers with the increased flexibility that internet bidding affords.”

Skinner selected the Fine Wines sale for its first timed auction due to specific demand from the industry. “We know this is how a significant number of our bidders prefer to do business,” said Marie Keep, Director of Fine Wines and Managing Director of Skinner. “In addition, timed, online-only auctions will allow Skinner to offer wines that appeal to a widening circle of buyers.” Skinner will offer more than 500 lots of wine in the online sale. Selections range from vertical and horizontal lots of Burgundy and Bordeaux to mixed lots of Port and Cognac, single bottles of first growth 1982 Bordeaux and a wide range of California wines.

“Timed auctions are one part of a renewed vision for Skinner’s online business,” added Karen Keane. “We are actively evaluating how our customers in all specialties want to interact with us and are tailoring our online strategies accordingly.”

This first timed auction immediately follows the live Fine Wine auction being held in the Boston gallery on May 3rd. The online sale will commence on May 4th at midnight EDT and bids for more than 500 online lots will be accepted until 8:00 p.m. EDT on May 13th. Descriptions for both the May 3rd live auction and the online portion of the sale and will be presented in a single catalog available by mail from the subscription department at +1 508-970-3240 or at the gallery.

Source: Skinner, Inc