Walt “AuctionWally” Kolenda talks about his creative selling platform mash-ups and offers tips for hosting your own live, online auctions.
To hold a live auction, Kolenda uses UStream TV, his computer, a microphone and a Web cam. UStream TV lets Kolenda stream a live video feed so he can show auction items to interested participants. He displays the item prior to the auction start-time, which allows interested bidders to request close-up views and different angles of the item.
When the auction starts, Kolenda takes bids via the Bonanzle booth chat and narrates the auction on UStream. Kolenda said it has taken some time to perfect the art of using Bonanzle and UStream for live online auctions, but his creative mash-up of services has paid off.
During the last live online auction he saw a 100 percent sale success rate. Since Kolenda has grown his following through his site, and Bonanzle members have been quick to participate. He says that this form of live auction has reached a point where he is now comfortable with the idea of auctioning off higher-value items.
Seller Tips: Hosting Live Video and Twitter Auctions
By Vangie Beal, August 20, 2009