online auction case study

Case Study: Increasing Profits with an Online Auction

Accelevents

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Heading into their 23rd annual Einstein Gala, The Nuclear Museum knew that it was time to join the 21st century and explore a digital auction.The committee was looking for a platform that would allow easy fund transfers, have plenty of resources to help them with the transition, and also be easy for both the admins & volunteer team running the auction as well as the participants bidding. Deidre McVay-Schulmeister, a member of the Gala's committee, also wanted to be sure that it would be easy to track & download item performance, to aide with future auction planning.Luckily with Accelevents, the committee was able to find everything they were looking for in a digital auction platform, as well as some perks they were not expecting.Due to the COVID-19 pandemic, the in-person portion of the gala had to be called off, but the online auction allowed bidders to participate & support the museum from the comfort of their own couches! McVay-Schulmeister said that bidders appreciated the visibility & detail on the Gala's auction site. Even if bidders couldn't see the items in person, the committee had still been able to upload multiple images & a description for each item, making it easy to get the details.After the cancellation of the in-person gala, the committee decided to open bidding for their online auction early, which led to higher proceeds for the event. In addition to making more money at the auction, McVay- Schulmeister reported that this was the quickest & easiest that checkout had ever been, with over 90% of the funds being collected in the days following the auction's close, opposed to the months it had sometimes taken in the past. The committee also loved the ease of being able to view & download all of the data from their auction with the click of a button.For all event hosts considering moving to an online-only fundraiser, McVay-Schulmeister had a few sage pieces of advice as someone who had been in the exact same position merely months ago:

"Really teach yourself & utilize the resources willing to help you make the transition, It’s important to learn every aspect [of the platform] from what the customer views to as well as being a back end expert. Utilize the help from Accelevents Customer Support. Get a buy in from everybody who participates. Guests, board, team etc., be open and honest to explain to them the process, make them feel comfortable, Assure them you’re there to help & have a volunteer team they trust."

If you're ready to take the leap & host your best auction yet, please reach out to our Customer Support team either using our Live Online Chat, or email us at [email protected]!

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Analysis, Design and Implementation of a Web- Based Online Auction System

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Industry: eCommerce & Lifestyle

Online Auction System using Ethereum Blockchain

Business Need

Client situation, recommended solution.

Key Features & Accomplishments:

• Online Auction System was implemented using Ethereum Blockchain
• Immutability of each bid was being registered
• Tracking and verification of bidding history was easier
• ‘No bid cancellation’ feature was enabled to ensure fraud free Auction
• Smart contracts (decentralized applications) written in Solidity
• Ethereum node interactions using HTTP, WebSocket and IPC connection
• Advanced Shipment Handling
• Auto Invoicing & Payments
• Secured & transparent ledger system to encompass all bidding transactions
• Our Ethereum developers provided low cost smart contract development using Ethereum Blockchain
• Robust and scalable online auction system was built
• Reliable to deal under irrevertible auction environment
• All transactions go through encrypted distributed ledger system. So no hacking possible!
• Appealing user experience
• Growing number of site visitors

Download Case Study

Online Reverse Auctions: Challenges and Best Practices

• First Online: 07 August 2018

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• Tobias Schoenherr 2  

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There were several challenges in the early years of online reverse auctions, and significant learning had to occur. This chapter focuses on these challenges, and offers a range of best practices in order to manage them. Specific aspects emphasized include the importance of having the right bid package, the importance of preparation, the importance of education and training, and the move of companies toward self-proficiency; tied to this was also the role played by the online auction provider and how they changed over the years in terms of their value-added services—the evolution of their business model will be reviewed. The chapter also introduces a set of common myths that were circulated in the early years, coupled with advice on how to not fall victim to them. Lastly, an illustrative example of a successful online reverse auction implementation is provided.

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Schoenherr, T. (2019). Online Reverse Auctions: Challenges and Best Practices. In: The Evolution of Electronic Procurement. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-319-93985-8_5

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Socium Media Makes Inc. 5000 List - Fastest Growing Private Companies in America

Socium media ranks on adweek's 75 fastest growing agencies list, socium media named by inc. magazine as best workplace & company on the rise (2021 & 2022), socium media recognized in fortune's best workplaces in advertising & marketing list, socium media is great place to work certified™, [new ebook] click to level up your creative testing game 🔥 🔥 🔥 🔥, acv auctions case study:.

Company Profile

ACV Auctions is an online auction platform that provides dealerships with an effortless buy-and-sell B2B marketplace. 

The Challenges

With the automotive supply chain continuing to struggle due to the COVID-19 pandemic, ACV Auctions was in an ideal position to help dealerships fulfill heightened inventory demands. However, they faced two significant challenges: finding highly qualified leads that were car dealers (not consumers) and stiff competition from bigger and better-known companies in the automotive remarketing industry. 

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Paid Search, Paid Social

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Several campaigns needed an overall restructure, keywords weren’t mapping correctly and required immediate attention, our strategic approach, overhauled google and bing campaigns.

Θ Campaigns only utilized Phrase and Exact match types, so we launched new Non-Brand campaigns with ‘Broad’ match types. In addition, we also l aunched new Brand campaigns on Exact and Phrase match types.

Θ We updated Non-Brand campaigns to utilize smart bidding/tCPA (target cost per acquisition) instead of manual/CPC to maximize efficiencies.

Θ We expanded RSA (responsive search ad) and competitor campaign coverage.

Made structural changes to Display & Youtube campaigns

Realigned the keyword mapping strategy, launched landing page & ad creative tests, the results qoq:, increase in total leads.

Below Cost Per Lead Goal

Future plans, following the success of the account restructure, we’ve been working with acv auctions on testing new tactics to expand their reach. in addition, we’re testing within the restructured campaigns to gain incremental efficiencies..

Socium Media is an extension of our SEM team. We’ve worked with them for almost a year and in that time they’ve restructured our Google Ads account to optimize for performance. Since working with them, they have done a tremendous job reducing our CPL by 83% all while increasing the number of qualified leads.

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A case study that examines how NextLot offerings compare to those of EquipmentFacts.

MarkNet Alliance

Gains/Losses When an Auctioneer Uses a Third-Party Online Bidding Platform.

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Cuadernos de Aleph

Pau Conde Arroyo

Este artículo se propone exponer los vasos comunicantes entre la indumentaria, la percepción de la belleza corporal y el género en tres ensayos autobiográficos de trabajadoras del sexo, a saber, Teoría King Kong de Virginie Despentes, Devenir perra de Itziar Ziga y Manifiesto puta de Beatriz Espejo. La aproximación crítica parte de Georges Gusdorf, Paul de Man y Ángel Loureiro en cuanto a la lectura de lo autobiográfico como fenómeno tanto estético como ético y de Roland Barthes en cuanto al estudio de la moda. La perspectiva sobre los textos se realiza desde una lectura queer de los mismos, lo que permite atender a los desplazamientos y resignificaciones de género, como la apropiación de los insultos puta, zorra y perra.

Maulana imamul Hakim

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Pro-Palestinian campus protests and Baltimore fights Dali ship owners: Morning Rundown

A judge considers whether Donald Trump violated a gag order by calling key figures in his hush money trial ‘’sleaze bags.’’ Arrests escalate tensions at campus Gaza protests. And a study shows how the definition of “old age” is shifting.

  Here’s what to know today.

Judge will weigh if Trump violated gag order before witness testimony continues

Former President Donald Trump’s trial to determine whether he falsified business records is set to pick back up with more testimony from former American Media chief David Pecker. But first, Judge Juan Merchan will consider whether Trump should be held in contempt over a series of posts on Truth Social calling Michael Cohen and Stormy Daniels ‘’sleaze bags’’ that prosecutors argue violated a gag order. 

The hearing to consider whether Trump violated rules follows a day of opening statements from both sides. It marked the first time time New York prosecutors have laid out their case against Trump. They told a story of a “criminal scheme to corrupt the 2016 presidential election.” And that “he covered up that criminal scheme by lying in his New York business records over and over and over again,” said Michael Colangelo, a lawyer with Manhattan District Attorney Alvin Bragg’s office.

Colangelo also quoted from the widely publicized “Access Hollywood” tape, which caught Trump on a hot mic saying he could grope women without their consent because “when you’re a star, they let you do it.”

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Trump attorney Todd Blanche went straight to trying to tear apart the prosecution’s story. He said there was “nothing wrong with trying to influence an election.” He added, “It’s called democracy.”

Blanche also alleged adult film star Stormy Daniels was trying to “extort” money from Trump, and that ex-Trump lawyer Michael Cohen was waging a vendetta against him. Here’s what else happened on the fifth day of the trial.

Trump was seen with his eyes closed as Merchan began the day by running through rote procedural matters. He began to focus more intently on key players in the room when opening statements began, and became even more animated when Pecker, the prosecution’s first witness, took the stand.

As senior politics reporter Jonathan Allen wrote in an analysis: Trump’s “entire demeanor changed over the course of a day, hinting that he plans to be an active participant in this trial going forward.” Read the full analysis here.  

Senate holds key test vote on Ukraine aid

The Senate is expected to vote to advance the House-passed package that includes $60 billion in aid to Ukraine and a provision that could lead to a nationwide ban on TikTok. The package also includes $26 billion in aid to Israel and humanitarian relief in Gaza, in addition to $8 billion for security in Taiwan and the Indo-Pacific. 

This afternoon’s vote isn’t on final passage of the bill, but is instead about whether senators can reach a deal to quickly vote to pass the bill the same day, or whether they will have to wait until tomorrow. The outcome of the vote is nonetheless a key indicator of whether the legislation has enough support to head to President Joe Biden’s desk. If it passes, TikTok’s China-based parent company will have nine months — or the president could extend it to a year — to sell the popular social media platform or be banned in the U.S. Here’s what else to know.

Arrests at NYU, Yale as campus protests escalate

New York police said they were “ready” to take Gaza war protesters into custody again at the request of New York University if demonstrators refused to leave. The statement came hours after several arrests were made last night. The number of people arrested, as well as the charges against them, were not available.

The tensions at NYU coincide with escalating campus protests across the U.S. over the war in Gaza. Forty-seven protesters at Yale University were arrested earlier yesterday. Classes at Columbia University will be hybrid for the rest of the spring semester, the school’s provost said, in light of recent protests. Here’s what else happened.

More on the tensions at college campuses:  

• Some faculty members at Morehouse College  have raised concerns  about plans for President Joe Biden to deliver a commencement address there next month.

A study considers the question: When does ‘old age’ begin?

People’s definition of “old age” seems to be skewing later and later, according to a new study, which asked people about their perceptions of age over the course of 25 years. The study found that people in their mid-60s believe old age starts at 75. But the older people got, the later they thought old age began. The generation in which participants were born also influenced their perception.

Experts say there is one important caveat to the research, which was published in the American Psychological Association’s Psychology and Aging journal. The study’s participants lived in Germany, where life expectancy has risen in the past few decades. But U.S. life expectancy declined from 79 in 2019 to 76 in 2021, which could skew the study’s results elsewhere.

Still, experts say the study offers insight into how people’s perspectives on aging change as they get older.

Baltimore battles Dali ship owners in bridge collapse

The City of Baltimore is seeking a jury trial in its effort to hold the owners of the Dali cargo ship liable for the collapse of the Francis Scott Key Bridge. In new court filings, Mayor Brandon Scott and the Baltimore City Council argued that Grace Ocean Private Ltd. and Synergy Marine Pte Ltd. “put a clearly unseaworthy vessel into the water.” The city also said the companies’ effort to limit responsibility for the vessel and the cargo’s value at $43.6 million is “substantially less than the amount that will be claimed for losses and damages” from the March 26 crash that killed six construction workers. The Port of Baltimore generated over $70 billion last year alone, the city said. 

The city alleges that the alarms on the Dali sounded “even before leaving the port,” but the ship left anyway. The court filings also take aim at crew members , accusing the companies of staffing the ship with people who lacked proper skill or training. 

Politics in Brief

Pennsylvania primaries: A key contest in the fight for control of the Senate, a moderate Republican put to the test and a district where the war in Gaza is front and center. Here’s what to watch for in the Pennsylvania primaries. 

EMILY’s List: As Trump moves closer to selecting his running mate, a major Democratic abortion rights advocacy group is focusing its annual “On Notice” list on “extremist” candidates. 

RFK Jr.’s influence: Trump has recently stepped up his efforts to brand third-party presidential candidate Robert F. Kennedy Jr. as left-wing and Biden’s problem. It’s a sign that he and his allies are worried that Trump may have more to lose from Kennedy’s presence on the ballot.

Supreme Court: Conservative justices appeared skeptical about a challenge to an Oregon city’s ordinances that punish homeless people for camping on public property when they have nowhere else to go.

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Staff Pick: Pastor vows to fight Satan’s influence in Metropolis

As I drove toward the city of Metropolis, Illinois, earlier this month, a billboard invited me to visit the “Home of Superman.” The small town, which shares a name with the city from DC Comics, is known for welcoming outsiders. But that reputation has been tested in recent months, as a local Christian pastor has rallied his congregation to stand against “evil” forces that he says have been encroaching on their community, via the public library.

The conflict — what some are calling “a battle for the soul” of Metropolis — follows a national pattern of Christian conservatives waging what they view as a spiritual battle inside libraries, as they seek to restrict access to LGBTQ-affirming books. But unlike comic books and the Bible,  the story I found in Metropolis  did not break along obvious ideological lines or black-and-white depictions of good and evil.  —  Mike Hixenbaugh,  senior investigative reporter

In Case You Missed It

• Hospitalized women are less likely to die or be readmitted to the hospital if they are treated by female doctors, a new study found.
• A beloved ostrich at a Kansas zoo named Karen died after swallowing a staff member’s keys .
• Comedian Arj Barker defended his decision to ask a breastfeeding mother and her baby to leave his comedy show.
• Five people, including two children, were found dead inside an Oklahoma City home.
• Mall retailer Express filed for Chapter 11 bankruptcy protection , but a group of investors is looking to acquire and save the company.

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Elizabeth Robinson is a newsletter editor for NBC News, based in Los Angeles.