Hot Listing
Well-Established and Profitable Online Auction House
Business Description
Run auctions once a week; warehouse could be relocated to another place in Canad
This is a well-established online auction house that has been operating successfully for over 20 years. It provides a platform and an open market place to buy and sell a wide range of items such as art works, antique curios, vintage pieces of decorative items, vintage coins, precious stones, jewellery, porcelain, ceramics, metalware and stamps and assorted items that are considered valuable. Estate items are sourced from all over the world and sold online through auctions held every week.
Key Features:
- Items for sale are received on consignment basis and listed for auction, therefore low inventory carrying risk.
- Natural arbitrage as income is in USD but expenses in CAD
- Fully automated AI assisted software drives the auction process - easy and convenient and avilable to anybody anywhere
- Well trained employees, efficeint and streamlined operations
CIM will be made available to qualified buyers.
NOTE - amounts in this listing page are in CAD; the functional currency for the business is USD. 1.4 CAD to USD was used for presentation purposes (rounded).
Key Features:
- Items for sale are received on consignment basis and listed for auction, therefore low inventory carrying risk.
- Natural arbitrage as income is in USD but expenses in CAD
- Fully automated AI assisted software drives the auction process - easy and convenient and avilable to anybody anywhere
- Well trained employees, efficeint and streamlined operations
CIM will be made available to qualified buyers.
NOTE - amounts in this listing page are in CAD; the functional currency for the business is USD. 1.4 CAD to USD was used for presentation purposes (rounded).
About the Business
- Years in Operation
- 14
- Number of Employees
- 3
- Currently Relocatable
- Yes
- Facilities & Assets
- This business was started 12 years ago. Over the years, it has built a reputation for quality and ease of operations. The company has made substantial investments in software development to produce a robust, efficient and easy to use system for online auctions that has enabled it to cast a wider net of potential customers. They continue to invest in their systems to ensure they remain at the cutting edge.
- Market Outlook / Competition
- There is not much competition for the business in the market segment that they operate in, and barriers to entry are high in this field. Online auctions require a steady stream of estate items and sourcing is a major impediment for new entrants.
- Opportunities for Growth
- Online auctions have grown in popularity in the last couple of decades as it obviates the need for middle men and physiacal locations. This trend is likely to continue as more activity moves online.
About the Sale
- Seller Motivation
- exit strategy
- Transition Support
- 4 weeks
Listing Info
- ID
- 2307731
- Listing Views
- 4009
Listing ID: 2307731 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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