Time-limited online auctions have flourished during covid lock downs, according to a leading UK auctioneer.
Fellows says it reacted quickly when the pandemic hit and pivoted its live public auctions to a timed, online-only format.
Stephen Whittaker, managing director at Fellows, said: “People are becoming accustomed to the timed bidding format.
“Many of our timed auctions are seeing a very high percentage of items sell, notably our first-ever Designer Collection timed sale in June which saw 91% of items sold, and our Online Jewelry sales in April and May seeing 93% and 92% sold-rates respectively.”
He added: “Our Watches auctions are also continuing to attract hundreds of new bidders”.
In April, the auction house’s record for participants in an auction was broken when the watches auction saw over 1,600 bidders taking part.
Fellows offers virtual viewings over Zoom at a time to suit the bidder, as well as free worldwide shipping on 90% of the items it sells.
Jewelry specialist, Lindsay Beardmore, said: “We are thrilled to still be able to connect with our clients during this isolated time. Using Zoom, our clients welcome us into their homes (often with a cup of tea!) and we are able to share our expertise with them.
“Although a video call has its limitations, we have been able to share some tricks of the trade with our clients so that we can value accurately.”
The auction house says it is now looking forward to a strong run up to Christmas throughout the festive period.