Real-time combined with live bidding made easy.
Our journey started with a research study in 2008 in the real estate market. What if live auctions could be extended with online bidding facilities? It would create more transparency when it comes to bidding on real estate. Auctions would become more accessible for a wider audience and will no longer take place in shady back rooms. Besides, it would increase the range and a higher bidding price.
WeAuction has been active in the auction industry for over 15 years. Our experience with this specific business combined with the best development skills resulted in WeAuction. The best auction software in the market.
In the past 15 years, we have helped multiple industries understand the power of online auctions combined with a live auction. We helped set up the software and future proof strategies.
How it started
‘The first room auction I attended was a real estate execution auction in the Netherlands, back in 2006. When I entered the room, I was surprised by the small number of bidders present. Even though, the properties that were being sold were very high in demand on the housing market. I presumed the properties’ selling prices would be negatively affected by the room’s limited demand, as bidding was not possible from outside.
I decided to research the actual selling prices of properties sold in the auction room compared to those on the real estate market. My research outcome was that the selling prices were actually 37% (!) lower at an auction than on the public housing market. That shocked me and made me decide to create more transparency in the auction system. My research resulted in a national newspaper publication, and it was discussed in the Dutch House of Representatives (Tweede Kamer der Staten-Generaal and Trouw: Opbrengst executieveilingen ver onder marktprijs).
I knew that better prices could be reached if the demand in the room (i.e. the number of bidders) would be increased, and I became dedicated to try and find a solution for this. That same year I started my own company to develop an online auction solution integrated with existing room auctions.
WeAuction is now market leader in organizing internet auctions in the Dutch real estate market. We organized over 1020 auction events with over 10.000 objects sold and managed to generate a turnover of over 1.3 billion euro. Since the beginning of 2019, WeAuction has also been active in the horse auction market. Together with our partner ClipMyHorse.TV we auctioned over 2000 horses this year.
I am very proud of the results we have achieved with WeAuction. What started with a personal interest and shocking results from my research study is now a global company that helps different industries create transparent and high-quality auctions.