Auctions, dealing in the past, but the future is bright

Auction businesses are a cultural touchstone, bringing together treasures from all walks of life, corners of the world and periods of time. But while the artefacts in the spotlight are often historical, the future direction and progression of auction businesses themselves is no less interesting.

With digitalisation and sustainability on the rise, society is changing before our eyes, and auction businesses are no exception. But what does the future hold? We’re going to take a closer look at what auction houses might look like over the next five years.

The rise of digital platforms

Online auctions have become the norm in recent years, breaking down geographical barriers and making auctions accessible to a broader audience. In fact, according to a report by Hiscox, online art market sales reached $4.82 billion in 2019. This trend is expected to continue, with predictions suggesting that the online art market could double in size by 2025.

The adoption of advanced technologies like virtual reality (VR) and augmented reality (AR) is set to enhance the online auction experience further. Imagine previewing a piece of art in your home using AR before bidding on it; or attending a live auction through a VR headset.

These technologies could make the auction experience more immersive and interactive, attracting a younger, tech-savvy demographic ready to dial in from anywhere in the world.

Sustainability and ethical practices

Sustainability is another critical factor shaping the future of auction businesses. There's a growing demand for more transparent and ethical practices from business across the globe, and the art world is no exception. Auction houses are responding by implementing more sustainable practices, such as reducing their carbon footprint and ensuring the provenance of the items they sell.

The focus on repatriating artefacts to their countries of origin and dealing with looted or stolen items has also intensified. Auction businesses are likely to adopt stricter due diligence processes and collaborate more closely with cultural heritage organisations to address these concerns.

Diversification of offerings

The traditional focus of auction businesses on high-value art and antiques is broadening. There's an increasing interest in collectibles, such as vintage fashion, rare sneakers, and digital art, including NFTs (Non-Fungible Tokens). In March 2021, Christie's sold a digital artwork by Beeple for $69 million, marking a significant moment for the auction world and highlighting the potential of NFTs.

As collectors' interests evolve, auction houses will likely continue to diversify their offerings to include a wider range of items, changing the current landscape of what experts consider to be valuable and collectible.

Global expansion and localisation

Like its broadening definitions of what makes a collectable, the global art market is also expanding. Asia, in particular, is playing an increasingly prominent role, with Asia-based sales rising 13% since 2020. Auction businesses are expected to continue their expansion into new markets, adapting their strategies to meet local tastes and preferences.

This localisation strategy may involve curating auctions that feature artists or items of local significance, offering services in multiple languages, and understanding the cultural nuances of each market.

Artisio: the future of auctioneering is here

Artisio represents the future of auction house technology, combining tradition process and requirement delivery with digital effectiveness. Our comprehensive auction management software allows an auction business to enhance both its efficiency and connectivity to essential 3rd party service providers, as well as improving customer engagement and overall user journey as well as cybersecurity.

Boasting a 360-degree approach to automated auctioneering management, Artisio is a sustainable solution for businesses and auction houses of any size looking to improve their services.

Discover more about how Artisio can support your retail organisation by booking a demo today.

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In today’s tech-driven business landscape, transactions are primarily conducted in digital space, making data protection and cybersecurity high priorities for all organisations. In fact, according to Juniper Research, digital card transactions will exceed 121 billion by 2027. So, ensuring safe, swift transactions is more important than ever.

For auction businesses, effective payment and invoicing is essential to long term success and it typically involves the integration of third-party systems. Let’s take a closer look at five common payment and invoicing problems facing today’s auction businesses.

Fraud and security risks

As digital transactions become the norm, auction businesses increasingly grapple with the threat of fraud and cybersecurity breaches. A report by CyberSource noted that online fraud attempts have surged, with businesses across industries experiencing a significant uptick in fraudulent activities.

Auction businesses, in particular, are vulnerable due to the high-value transactions and the international profile of many clients. Implementing robust fraud detection and prevention mechanisms is crucial, yet remains a challenge for many, especially small to mid-sized auction houses.

It’s for this reason that the Artisio platform is designed to seamlessly integrate with secure and reputable third-party platforms – so that your supply chain maintains a healthy balance with any undue exposure to risk minimalised.

Complex international transactions

Auction businesses often deal with buyers and sellers from across the globe, bringing about the challenge of handling multiple currencies and complying with various international payment regulations. The complexity of cross-border transactions, including currency conversion fees, international taxes, and compliance with foreign financial regulations, can be daunting.

According to a report by PwC, navigating the regulatory landscape of international trade remains a top concern for businesses engaged in cross-border activities.

Delayed payments

Cash flow is the lifeblood of any business, and auction businesses are no exception. Delays in payment, whether from buyers or through consignment agreements with sellers, can significantly impact operations.

The challenge is exacerbated by traditional payment methods, which can be slow and cumbersome. A survey by the Electronic Transactions Association found that nearly 60% of businesses cite delayed payments as a significant cash flow challenge, underlining the need for auction businesses to adopt more efficient payment solutions.

Invoicing errors and disputes

Invoicing in the auction industry is fraught with potential errors, from incorrect billing details to disputes over final hammer prices and buyer’s premiums. Each error or dispute can delay payments and erode trust between the auction house and its clients.

The complexity of auction transactions, involving multiple items, variable prices, and buyer’s premiums, makes accurate invoicing a significant challenge. Research by IBM indicates that manual invoicing processes have a high error rate, leading to increased disputes and reconciliation efforts.

Lack of integrated payment systems

Integrating payment systems with auction management software is essential for streamlining operations and providing a seamless customer experience. However, many auction businesses struggle with disjointed systems that require manual reconciliation and data entry.

This not only increases the risk of errors but also slows down the transaction process. A study by Forrester Research highlights that businesses with integrated payment solutions report higher customer satisfaction and operational efficiency.

Solve your payment problems with Artisio

Navigating the complexities of payment and invoicing in the auction industry is a formidable task, and one that must be tackled head-on.

Embracing Artisio’s auction management software can provide your auction business the framework and safety net it needs to thrive in the digital age. Artisio provides a centralised, single platform designed exclusively for auction management, allowing you to save on time and resources while enjoying the peace of mind that comes with secure payments and invoicing.

Discover more about how Artisio can support your retail organisation by booking a demo today.

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It may have felt like science fiction just four or five years ago but there’s now no doubt that AI is transforming the way the world operates. Every industry, from manufacturing to marketing, is undergoing changes to accommodate the latest wave of technological innovation.

As the name suggests, artificial intelligence leaves the hard work to the machines, using automation and machine learning to process information, make decisions and take on much of the heavy lifting mimic the human mind. This allows businesses across all sizes and specialities to save on time and resources.

According to Forbes, 68% of large companies, 33% of medium-sized companies, and 15% of small companies have incorporated some form of AI into their daily operations, and one area AI can help is in auction house management.

With that in mind, let’s take a closer look at 5 ways AI automations can streamline and simplify the road to success for auction houses, taking the heavy lifting out of daily operations.

Automated cataloguing and valuation

The first step in auction house operations involves cataloguing and valuation, traditionally a time-consuming process requiring expert knowledge. AI can automate these tasks by analysing vast amounts of data to accurately value items.

For instance, AI systems can compare an item against thousands of similar items sold worldwide to estimate its worth accurately. This not only speeds up the process but also enhances accuracy.

A study by Deloitte highlights how AI can reduce human error in valuation by up to 50%, making it a valuable asset for auction houses aiming for precision in their offerings.

Intelligent marketing and customer targeting

AI's power to analyse big data can be leveraged to tailor marketing strategies to specific customer segments. Machine learning algorithms can sift through customer data to identify patterns and preferences, enabling auction houses to target potential buyers with personalised recommendations and advertisements.

Salesforce reports that AI-enhanced personalised marketing can increase sales by up to 20%, so by using AI to automate and refine marketing efforts, auction houses can more effectively reach and engage their ideal clientele.

Fraud detection and security

Auction houses deal with high-value transactions, making them targets for fraudulent activities. AI systems can monitor bidding patterns and flag irregularities in real-time, significantly reducing the risk of fraud.

According to IBM, AI can detect fraud up to 60% faster than traditional methods. By implementing AI-driven security measures, auction houses can protect their operations and ensure a safe environment for buyers and sellers alike.

Operational efficiency with smart logistics

Logistics, including the storage, handling, and shipping of auction items, is another area where AI can make a significant impact. AI-driven systems can optimise warehouse layouts, manage inventory, and coordinate shipping routes to minimise costs and delivery times.

The World Economic Forum suggests that AI-driven logistics can cut operational costs by up to 25% for businesses. For auction houses, this means more efficient operations, resulting in faster delivery times and lower overheads.

Enhanced customer service with AI chatbots

Customer service is crucial for auction houses, where clients may have inquiries about items, bidding processes, or payment methods. AI chatbots can provide instant responses to common questions, freeing up human staff to handle more complex queries.

According to a report by Gartner, businesses that integrate customer service chatbots can save up to 30% in customer support costs. For auction houses, this translates to improved customer satisfaction and loyalty, as well as significant cost savings.

Artisio: the future of auctioneering

Investing in Artisio means investing in the future of auction house technology. We’ll help you not only enhance your efficiency and accuracy, but also improve customer satisfaction and security.

As AI technology continues to evolve, its role in transforming the auction industry becomes increasingly indispensable, paving the way for a more streamlined, secure, and successful auction process.

Discover more about how Artisio can support your retail organisation by booking a demo today.

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The global nature of today’s online auction landscape means that businesses need to more adaptable in meeting the diverse needs of their clients across multiple territories and countries. This expansion paves the way for increased commercial opportunities and a wider reach for auction businesses. However, the reality of managing the logistics powering this expansion is a complex and multifaceted operation, where a multitude of variables and languages can intertwine to create a daunting challenge.

But what if there was a way to turn this complex puzzle into a smoothly synchronised operation, where every branch and language work together seamlessly, resulting in a flawless performance?

Enter Artisio's Multilingual & Multibranch Support, a game-changer for companies who trade in multiple territories, that is redefining how auction businesses operate on a larger scale.

Effortlessly Managing Multiple Branches in One Installation

Whether your auction business operates in different countries, regions, cities or simply across various offices, Artisio's Multilingual & Multibranch Support module empowers your business to streamline diverse operations, simplifying complex tasks, enhancing efficiency, and ensuring that each branch's unique requirements are met.

• Mark Holdaway, Head of Sales at Artisio: "We understand how increasingly important and challenging it is for auction businesses to manage multiple business locations across multiple territories. Efficiency suffers without a centralised platform, leading to data flow and logistical errors.  When we created Artisio, centralisation of process across multiple sites and a scalable core environment, were always the priorities we focused on from day one."

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Branch-Based Configurations

With Artisio, you gain the ability to create branch-specific configurations and access controls for each location, all within a single Artisio auction management software installation. This means you have total control over the individual settings for each branch while maintaining a unified management approach. Here's what this powerful feature offers:

• Branch-Based Configuration: Customise tax schemes, VAT tax rates, buyer premiums, vendor commissions, seller fees, and additional taxes and charges for each branch, tailoring invoicing and settlements to specific regional requirements.
• Multilingual Interface: Artisio's translatable and branch-based user interface allows team members in different branches to work in their preferred language, enhancing efficiency and user experience.
• Branch Branding and Customisation: Create branch-specific branding, formatting, and document structures for invoices, settlements, and other exports, maintaining a consistent brand identity while allowing for regional adaptations.
• Custom Notifications: Implement branch-specific custom notification templates that automatically inform buyers, sellers, and Artisio users about important events through email and text messages, ensuring everyone remains well-informed.
• Item Location Management: Manage item locations and storage areas on a branch-based setup, making it easy to track assets across multiple locations.
• Live Auction Support: Configure auctioneer clerks and preferred languages on a branch-by-branch basis for live auctions, ensuring smooth operations for your unique setups.
• Department and Category Management: Artisio's admin panel empowers businesses to create custom tax schemes, VAT tax rates, buyer premiums, vendor commissions, and additional taxes and charges tailored to specific categories.

Individual Permissions & Access Levels

Artisio's Multilingual & Multibranch Support module offers robust individual permissions and access controls, granting precise data access based on roles and responsibilities. Here's how it works:

• Modular-Based Permissions: Assign permissions to read, view, delete, or export data individually to each staff member, focusing on specific modules like stock, inventory, invoices, and marketing.
• Department-Based Permissions: Building on modular permissions, this feature adds an extra layer of data access filtering. Staff members with access to certain modules will only see data relevant to their assigned department.
• Account Manager-Based Permissions: Staff members with access to specific modules see only the data they are assigned to manage as account managers, enhancing data security and streamlining operations.

In the ever-evolving world of auctioneering, Artisio's Multilingual & Multibranch Support is a pivotal tool for modern auction businesses that prioritise efficiency and accuracy. It centralises operations and empowers businesses to manage diverse branches, offering customisation, language flexibility, and precise access controls.

Discover Artisio's Multilingual & Multibranch Support for Yourself

With Artisio, you have the power to centralise your auction business operations, no matter how diverse or geographically dispersed they may be. By harnessing the capabilities of the Multilingual & Multibranch Support module, you can streamline your auction operations and enhance your team's productivity.

Find out how Artisio can transform your multibranch auction management by booking a demo today.

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Artisio’s market-leading auction invoicing software ensures that payments and invoices are stored, shared, and sent securely.

Managing payments, invoices and settlements is an intrinsic part of the day-to-day processes for any auction business – and any business for that matter. Buying and selling assets is the very foundation of auctioneering, but not every auction business manages its financial operations in the most efficient and accurate way.

Artisio have worked hard to build solutions into our auction management software that save time and resources, cutting down on mistakes caused by too much process. Using our platform, businesses can benefit from automated post-sale invoice calculations, and financial activity reports for both vendors and buyers. Artisio makes managing payments easy, whilst also prioritising information security and data protection. Let’s take a closer look.

Automated invoice management: free up time to focus on other areas of work

Organising invoices can be a thankless task– one that consumes time and resource effort that could otherwise allocated more proactively. With Artisio’s auction management system, post-sale invoices are generated automatically via email, meaning successful bidders are notified quickly and efficiently. Emails can be sent as batches and individually, and there is always the option to edit and send each invoice manually.

Auction houses are given the ability to create and manage invoice tax details easily, with tools to automatically calculate VAT and tax additions. Managing buyer’s premiums and extra charges can also be handled on either a buyer or lot level.

Effective and secure payment management

According to Cybercrime Magazine, data breaches and other cyber attacks cost a staggering $10.5 trillion globally each year, and payment information is often the number one target. Artisio offers auction businesses a quick and secure payment solution through seamless API integrations with approved online payment providers.

Invoices can be settled through embedded, secure payment links, or via the Artisio Web App integration. Creating and completing untraceable payments, such as bank transfers, with payments, wire, cash, and cheque options can all be facilitated in one place.

Managing invoices and settlements is easy with Artisio WebApp

Our Web App is a client-facing platform that makes it simple for buyers and sellers to manage their payments and invoices.

Clients – whether buyers or sellers – can create a personalised profile to tailor their auction journey experience with your business, helping to ensure that you can meet and exceed their expectations on front to back delivery. Customers can manage their settings, track, and manage items, access bidding and financial data, and – crucially – settle invoices on a single page through our frictionless app experience.

Web App and auction management software

Through Artisio Web App integration, payments can be easily facilitated. Automated invoice management functionality means that auction businesses can save time by auto-generating invoices. Artisio’s auction management software provides buyers with the choice of paying any invoice online through secure embedded links, or through our secure Web App.

• As Alex Qamarauli, Product Owner at Artisio, explains, “We understand that auction businesses and their customers value speed, efficiency, and security when it comes to transactions. Through our seamless and rigorously tested Web App we can help an auction house to build trust and create a satisfying user experience.’’

Integration with any 3^rd party payment provider

If your concern is the potential cost impact of introducing effective auction management and cybersecurity into your organisation, then Artisio has the solution. Artisio can integrate seamlessly with your existing payment providers. Our auction management software can be integrated with any nominated third-party platform or service provider, including Stripe, Xero, Mailchimp and more.

This means that our platform integrates with the business-critical tools that auction teams are already familiar with, whilst transforming time-consuming, manual back-office tasks into fully automated operations.

A full list of our current integration partners can be found here.

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Auction management software is making a real difference

Our auction software is supporting and transforming some of the world’s leading auction companies such as Venduehuis der Notarissen. Venduehuis may have been successfully auctioneering for more than two centuries – since the rule of Napoleon Bonaparte – but they are embracing and taking on the challenge of modern innovation head on.

By introducing Artisio’s auction management system and timed auction software into their infrastructure, Venduehuis have successfully begun streamlining their payments and invoicing, freeing up time and effort to spend elsewhere. You can read more about our work with Venduehuis der Notarissen here.

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Discover Artisio’s payment and invoice management software for yourself

With a 360-degree approach to automated auction management, Artisio is helping auction businesses around the world manage their operations with efficiency, transparency, and security. With Artisio powering your back-office processes, you can navigate all factors of your auction management – including payment, invoicing, and settlements – all in one, safe place.

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Find out more about how Artisio can improve your auction management today by booking a demo.

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Understanding and effectively managing customer interactions is essential in any industry, and for auction businesses it’s no different. By understanding buyer interest, how they engage with your business, and what they need to enjoy a positive customer experience, auction businesses can deliver and maintain the very highest standard of service – maximising profits and improving reputation in the process.

As technology has evolved, customer expectations have grown. So, it’s no surprise that recent research found a close correlation between a good digital experience and revenue generation. In fact, it is estimated that 70% of consumers spend more with companies that offer “fluid, personalised, and seamless customer experiences”.

So, how can an auction business provide a superior service? At Artisio we believe in working smarter for customers, not harder. That’s why we have developed a comprehensive auction management system that puts control and insights at the fingertips of auction businesses – whether they specialise in art, antiques, retail, P&M or industrial equipment.

Our platform is trusted by organisations around the globe to streamline operations and enhance productivity. Read on to find out what our powerful management software and integrated systems can offer you.

A single platform for comprehensive management

At its core, Artisio offers auction businesses the ability to manage clients, bidders, suppliers, and partners in one place. Users can either manually add a customer within the Artisio platform or effortlessly sync customer data from external sources such as a website, timed auction modules, or any pre-existing CRM.

This provides you with a single destination when seeking key information, storing data in a way that is both convenient and secure. It also enhances collaboration and information between team members –an improvement that studies have shown can make a big difference to the smooth operational running of an organisation. In a recent report from Zendesk, it was found that 72% of business leaders believed that operational efficiencies could be achieved by merging teams and responsibilities that focused on the customer experience.

360° Overview of Client Interactions

Artisio takes pride in its comprehensive 360-degree view, simplifying the tracking, analysis, and monitoring of buyer/seller interactions for auction businesses.

Our integrated platform empowers auction businesses with the ability to centralize data from third-party resources via our API capabilities.

As Artisio CEO and Co-Founder, Berdia Qamarauli, explains:
"With all the information in one place, auction managers no longer need to navigate multiple platforms to access customer interests, contact details, or consult third-party financial activity graphs for their buyers and vendors.This optimization streamlines their workflow and frees up resources."

Streamlining auction management back office activities

There are a variety of key features within Artisio’s auction management software that are designed to make customer care easier and more rewarding for auction businesses. These features include:

• ‍Seamless customer creation & data syncing: Artisio provides options to connect with various platforms, be it a website, timed auction module, or any third-party system via API. There's also a built-in capability to automatically sync customer data to Artisio AMS.‍
• Personalised client setup: Every auction house is unique with their own specific requirements. In fact, 62% of consumers agree that personalised recommendations are better than general ones. That’s why the Artisio platform is flexible and easy to shape around individual needs. The platform offers personalised client setups and auction fee management, bidding limits applied at various levels, and a dedicated single point of access to customer dashboards.‍
• Intuitive customer dashboard: A quick view of all key information in one place to make prioritising actions and gaining insights simple and easy.‍
• Transparent financial management: Artisio empowers users with tools for a full review of financial activities. Buyers and sellers can access data any time and anywhere. This includes pre-auction checks on bidders via card authorisations, dedicated sections to manage buyer premiums, vendor commissions and VAT calculations, as well as the ability to adjust commissions per inventory item for specific customers.‍
• Audit trail & activity log: With Artisio, transparency is paramount. The platform logs every action, detailing staff member name, change date, and the specific activity. Users can track, retrieve, and even restore any sensitive data that might have been changed in error.

Safety and compliance

Data security is an essential factor for any modern auction businesses. Not only does the risk of a data breach mean financial chaos, but it can also put the reputation of your business in jeopardy.

Organisations can rest easy knowing that Artisio is rigorously tested to ensure safety, security and compliance with GDPR standards. All bidder and buyer data are encrypted, ensuring utmost confidentiality. Additionally, the platform boasts comprehensive KYC and AML onboarding capabilities, which means all users meet the highest standard requirements for ID and supporting photos.

Try Artisio’s auction management software for yourself

Artisio is revolutionising auction management with its 360-degree customer view, ensuring auction businesses can manage their operations with unparalleled efficiency and transparency. Whether you're an established auction house or preparing to hold your first auction, Artisio promises to deliver an experience that combines customer management, financial oversight, and security into one seamless package.

Find out more about how Artisio can improve your auction management today by booking a demo.