Red2 Auction
Red2 Auction is a comprehensive business-to-business (B2B) and business-to-consumer (B2C) auction system. It is designed to deal with medium- to large-scale auction requirements, and has full back office functionality.
At red2, we understand that an auction system needs to be scalable to handle high volume throughput, with the majority of bids taking place in the last few minutes of any auction. Red2 Auction’s bidding system ensures an exact close time and precise bidding; there can be no doubt when bids took place and who, ultimately, has won an auction.
Red2 Auction provides a toolset which enables you to tune your auction to gain the maximum return per lot. Typically lot-tuning increases the end sale value by 15% and is largely unique to our product. Functionality includes:
- Auto-extension, enables popular auctions with a high bid volume to be automatically extended
- Auto-increment balancing allows tuning of the bid increment based on actual auction activity which can help to maximise the casual bidder as opposed to an auto-bidder
- Auto-bid functionality provides customers with timely alerts and can enable customers to set an "above auto-bid" percentage band
Red2 Auction is not an off-the-shelf product, but rather, a set of components which will be extended and expanded to meet your individual requirements. We have a set of tried and tested building blocks which are designed to evolve to meet your industry, or the specifics of your business process.
The core of our auction engine is updated with new approaches, functionality, and features responding to demands of both customers and individual market places. As a customer you can receive updated functionality as part of our subscription service, enabling cost efficient service enhancements.
Common Deployments for Red2 Auction
- Reclaimed inventory
- Excess inventory
- Asset liquidation inventory
- Automotive
- Travel inventory
- Energy auctions, transport and other e-procurement
Other Features
- Tender-based auctions
- Reverse auctions
- Restricted categories and views
- AJAX integrated
- Comprehensive user management and sign-up processes
- Invoicing and account functionality
- Bulk upload and download of auctions
- Scheduled auction starts
Open Source Roots
Red2 Auction started life as an open source project in 2004. The solution has moved on considerably since it’s early days and is the most mature online auction system available (aside from the likes of eBay).