Transforming Auction Business: Eric Bordeleau’s Success Story with Jakibi
Eric Bordeleau made his auction business as success by moving to a digital, Dutch-Auction platform for low-performing items both on-site and off-site
The auction market is undergoing a transformation, with traditional auction houses facing challenges such as aging clients, outdated practices, and difficulties in managing inventories and transactions. However, Eric Bordeleau, an auction business owner, found a solution in the form of Jakibi — an innovative online platform.
Let’s explore how Eric Bordeleau used Jakibi to transition from an old-school auction house with low profits and huge inventories to a modern online Dutch-auction style platform that increased sales prices, revenues, and operational efficiency.
Streamlining Operations
Eric Bordeleau realized that managing inventories, clients, and transactions on a case-to-case basis was hindering his business growth. Jakibi provided the perfect solution by combining a user-friendly interface with powerful inventory management tools. With Jakibi, Eric was able to seamlessly organize and showcase lots for auction, ensuring a smoother process from start to finish. The platform’s integrated features allowed him to sell lots directly on premises, eliminating the need for additional logistics and reducing overhead costs.
Tapping into New Markets
One of the challenges faced by traditional auction houses is the limited reach and declining interest from younger buyers. Jakibi changed the game for Eric by offering a digital platform accessible to a global audience. The transition from a physical auction house to an online platform enabled Eric to attract a wider range of buyers, including tech-savvy individuals who preferred the convenience of participating in auctions from their homes. This expanded market reach brought in fresh bidders and injected new life into Eric’s auctions.
Increased Profitability
By leveraging Jakibi’s Dutch-auction style, Eric Bordeleau experienced a significant boost in sales prices and revenues. The interactive bidding process, combined with the platform’s built-in promotional tools, created a competitive environment that drove prices higher. As a result, Eric witnessed an impressive doubling of his profit within just one year of utilizing Jakibi. Additionally, the platform’s comprehensive analytics tools allowed Eric to gain valuable insights into buyer behavior and market trends, enabling him to make data-driven decisions for his business.
Cost Efficiency
Running a traditional auction house comes with substantial overhead costs, such as venue expenses, staffing, and marketing. Jakibi brought about a drastic reduction in Eric’s operational expenses. With the elimination of physical venue requirements and streamlined processes provided by the online platform, Eric was able to cut his costs by half. The savings made a notable impact on his bottom line, contributing to the increased profitability of his business.
Conclusion
Eric Bordeleau’s success story serves as an inspiring example of how embracing innovative solutions like Jakibi can revitalize the auction industry. By transitioning from an old-school auction house to a modern online platform, Eric not only tapped into new markets but also achieved higher sales prices, increased revenues, and improved operational efficiency. The decline in the auction market is being counteracted by forward-thinking individuals like Eric, who recognize the potential of digital transformation in achieving sustainable growth and success in the auction business.
Head over to jakibi.com to learn more!
Feel free to rech out by email:
info@jakibi.com
Talk to Eric Bordeleau on LinkedIn to know more about his story:
https://www.linkedin.com/in/ericbordeleau
