Auctions has been around as a method of trading for a long period of time, dating all the way back to the seventeenth and eighteenth century. The auction industry around the world was valued at US$ 352.7 billion in 2019.
Online auctions have becoming increasingly popular. As auction houses enter the digital age, millennials and first-time buyers are increasingly taking an interest as the act of bidding gives them a sense of excitement.The online auction market size is its fastest growing sector at 8.8% annually. Auctions are the best way to realize the highest returns for a commodity.
Out of the many online auction platform, JVauction has prominently stand out of the group as the platform that’s laying the foundation for online tech-based auctions
JVauction is a multifaceted technological firm, founded with a focus on bringing value to the mass markets through the use of unique technologies and a global collaborative economy concept. Incorporated in the tax havens of the British Virgin Islands, Jvauction introduces an opportunity for its community to fund the acquisition of various assets and obtain a percentage of the returns after every auction.
JVauction provides their members the opportunity to participate in the niche auction markets by acquisition of assets at the lowest price and introducing these items to their clientele via their online auction platform. Compared to traditional auction, online auctions eliminate unnecessary manpower and venue cost. By doing so, they aim to be the top online collaborative auction house providing a constant inventory of highly sought-after products.
A tech specialist focused on secure data dissemination and user interface technologies; Lucas Walton is JVauction’s CTO leading the firm’s technology department. Sharing the belief with CEO Jack Vermont that high-priced auctions shouldn’t just be for the top 1 percentile of the world, Walton decided to join Vermont in his own online auction house venture which feature a global collaborative economy concept. Armed with years of experience in the IT sector, Walton strives to create and continuously improve the online auction platform for the global markets.
With their sights set on forwarding the auction industry with the use of technology, the management team is laying the foundation right with JVauction. There will be boundless opportunities for profits for the company and members alike.