Industry Solutions

Revolutionize Live Auctions Using Real-time Streaming Software: Advanced Tools to Boost Auction Performance

SUMMARY

Explore how innovative technologies, like real-time streaming software, are transforming traditional auction methods and making live auctions more dynamic and accessible. From global reach to advanced tools like live clipping and simulcasting, this blog reveals how auction houses, art collectors, and enthusiasts can revolutionize their auction performance.


Live auctions have long been an exciting way to buy and sell valuable items. But in today’s digital age, traditional auction methods are being transformed by innovative technologies. With real-time streaming software, the auction experience has never been more dynamic, engaging, and accessible. Whether you’re an auction house, art collector, or antique enthusiast, you’re about to discover how advanced tools can boost your auction performance. From global reach to live clipping, get ready to revolutionize your live auctions.

Table of contents

What is real-time streaming software for live auctions?
How does Dolby Millicast enhance live auctions?
What are live and timed auctions?
How do I improve auction outcomes?

What is real-time streaming software for live auctions?

Real-time streaming software enables live auctions to be broadcast over the internet, allowing bidders from around the world to participate as if they were there in person. This technology offers features like synchronized video, mobile view bidding, Multiview and real-time bid updates, ensuring a seamless and engaging experience for all participants.

Global reach and accessibility

One of the key advantages of using real-time streaming software for live auctions is the ability to reach a wider audience. With traditional live auctions limited by physical location, real-time streaming allows bidders from around the world to participate in auctions remotely. This not only increases the number of potential bidders but also enhances accessibility for those who may not be able to attend in person due to various reasons. As a result, auction houses can attract more participants and increase competition for items up for bid.

Simultaneous in-person and online bidding

In-person auctions offer a traditional, hands-on experience where bidders can physically inspect items and experience the thrill of live bidding amid an energetic crowd and live auctioneer. The atmosphere is often charged with excitement as bidders engage in competitive interactions. In contrast, online auctions provide convenience and broader reach, allowing participants from around the world to bid from the comfort of their own homes. While online auctions lack the tangible experience of in-person events, they compensate with real-time updates, dynamic visuals, and seamless integration through streaming technology, providing an equally exhilarating auction environment.

Real-time streaming software enables live auctions to be broadcast over the internet, allowing bidders from around the world to participate as if they were there in person. This technology offers features like synchronized video, mobile view bidding, and real-time bid updates, ensuring a seamless and engaging experience for all participants.

With sub-half-second latency, our software guarantees synchronized real-time updates for all participants, no matter where they are located. This feature is crucial for preserving the integrity and fairness of live auctions.

Live car auction with sharp image of a purple car in multiple views

Superior image clarity

When bidding on high-value or intricate items, image clarity is crucial. Dolby Millicast offers up to 4K real-time streaming, providing crystal-clear visuals that allow bidders to see every detail. This level of clarity instills confidence in bidders, encouraging them to place higher bids.

Real-time bid refresh

In a live auction, timing is everything. The ultra-low latency experts at Dolby Millicast ensure that bids are updated in real-time, eliminating the need for constant page refreshes. This feature keeps the bidding process smooth and fair, enhancing the overall experience for both bidders and auctioneers. With less than 500ms latency, we enable bidders to place a bid up to the last possible moment.

How does Dolby Millicast enhance live auctions?

Dolby Millicast specializes in real-time streaming, offering a platform that is both robust and user-friendly. With just a few simple clicks, setting up a live auction is effortless, allowing you to focus on what you do best- running the auction. Leveraging our unique CDN for global video distribution, we enable sub- 500 millisecond latency, ensuring that all participants receive synchronized real-time updates.

Real-time and post-event auction tools

Mobile view & bidding

Live bidders can participate in real-time streaming auctions using any device, from smartphones to tablets. This flexibility makes it easier for bidders to join, increasing participation and driving up bids.

Live auction with tea set with multiple views and angles of the detailed flowers on the tea set
Multiview feature

Our interactive Multiview feature allows bidders to select their preferred camera angle. Whether it’s a piece of jewelry or a classic car, bidders can inspect items from multiple angles, enhancing their confidence and willingness to bid.

Live clipping

Timing disputes can compromise the fairness of an auction. Our live clipping feature allows auctioneers to create and share clips instantly during a live stream, quickly resolving any timing issues.

Additionally, these clips can be posted on social media to expand your live auction audience.

  • Share real-time clips from a live auction before bidding concludes.
    • Spark immediate interest and engagement.
Simulcasting (Re-streaming)

Re-streaming, sometimes referred to multistreaming or simulcasting, enables you to effortlessly connect with diverse audiences across multiple platforms using a single video source. By simulcasting your live streams, you extend your reach and attract more potential bidders via social media. This approach leverages platforms with vast user bases to amplify visibility.

Recording and sharing

Recording live streams and sharing them on social media can increase visibility and attract more bidders. These recordings also serve as a lasting record of the auction, which can be invaluable for future reference.

What are live and timed auctions?

Live auctions

In a live auction, an auctioneer leads the bidding process in real-time. This creates a dynamic and interactive environment, fostering immediate competition and engagement among bidders. Our software’s synchronized video and real-time bid updates ensure a seamless experience.

Real-time bidding

Participants place bids in real-time, either in person or online, under the supervision of an auctioneer.

Immediate results

Winners are determined instantly once the auction concludes.

Dynamic atmosphere

The presence of an auctioneer and other bidders creates a competitive and engaging environment.

Timed auctions

Timed auctions have specific start and end times, allowing bidders to place bids at their convenience. While they lack the immediate feedback of live auctions, timed auctions offer flexibility and can attract a different audience segment. Both formats benefit from our real-time streaming software, enhancing accessibility and participation.

  • Set duration: Bidding is open for a predetermined period, allowing participants to place their bids at any time within that window.
  • No immediate interaction: There is no live auctioneer; participants bid against each other indirectly.
  • Scheduled closure: Auctions end at a specific time, with the highest bid at that point winning.

Whether a live or timed auction, our streaming software’s low latency and high-quality streaming ensure a seamless experience for all.

Improve auction outcomes

Dolby Millicast improves auction outcomes with features like live clipping, Multiview, and real-time bid updates. These tools boost engagement and participation, leading to higher final bids and increased profitability. By making your auctions accessible to a global audience, you can attract more participants and drive-up bids.

Disputes and audits

Real-time video recordings and clips are invaluable tools for resolving disputes and conducting audits in live auctions. These recordings provide an indisputable record of the events as they unfold, ensuring transparency and accountability. In the case of any disagreements or claims of unfair practices, auctioneers can review the footage to accurately determine what transpired. Additionally, these clips serve as a reliable reference during audits, helping to verify that all procedures were followed correctly and maintaining the integrity of the auction process.

Conclusion

Real-time streaming has revolutionized online live auctions by enabling instantaneous bid updates and interactions, creating an engaging and competitive environment for participants. This transformation allows auctioneers to reach a global audience, increasing participation and driving higher final bids.

Whether you’re an auction house, art collector, or antique enthusiast, this technology offers numerous benefits that can transform your auctions.

Ready to take your auctions to the next level? Sign up for Dolby Millicast today and experience the future of live auctions.

Rose Power

Senior Product Marketing Manager

Rose Power is the Senior Product Marketing Manager for Dolby. She is driven to build authentic relationships and craft simple solutions in the video-streaming sector. In her downtime, Rose enjoys strumming on her ukulele, tending to her garden, or embarking on hiking adventures with her backpack and pup.

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