Will auctions eventually take place with no bidders at the auction?

[ericisback]

Does anyone think car auctions will continue, in the short term, if the bidders are all online or telephone, or will the auctions just continue to be postponed? I know the closest auctions had already been postponed, but how long can the auction houses continue to do that?!?!

[Petes L48]

With the supply side also drying up due to people staying at home, limited resources, etc. I'd think they get postponed.  Plus I expect people are in a hold pattern with major purchases now.  And although they have the phone bidders, there is likely a lot of value in having the bidding competition on the floor, to get the prices (and emotions) up.  But Bring A Trailer is all online, so what do I know.  Maybe they'll have guys and gals in protective clothing rolling a few cars across the block.  Doubt it would cover the event costs though.

[BillOhio]

I participated in an equipment auction this week that was online.  You could go look the 2 days before and the bid on a live auction. You do miss the excitement of being there

[Kelley W King]

If it is not live may as well be Ebay

[adjudimo]

Kelley, "If it is not live may as well be Ebay" That's funny. I really don't see where going out at this time is very smart or important, especially for something such as going to a auction and such. Yea, you might get a better deal with less competition, but you might get something else to go along with it. Not to mention taking it home to your family, friends. This will more than likely drive the prices down in the foreseeable future. People will more than likely start prioritizing their spending for necessities instead of their wants, desires. Who knows, this might eventually flood the market with people wanting to cash in on getting rid of their rides, which will also drive the prices down. Many possibilities.

[Charley]

I think Gooding and RM are already doing their latest auctions online only. Cars were signed up so they might as well see if a fish bites.