PRESS RELEASE: The Shift from In-room to online auctions: the iconic rostrum has become a relic of the past as the auction process moves online

In recent years, the world of auctions in Australia has undergone a significant transformation, driven by advancements in technology and changing consumer preferences. The traditional in-room auctions where buyers gathered in person to bid on items are gradually giving way to the convenience and accessibility of online auctions.

This shift has also impacted the sale of physical items associated with traditional in-room auctions. The iconic rostrum has become a relic of the past as the auction process moves online.

Matthew Fiedorowicz, auctioneer at Abbeys Auctions, shared his perspective on this shift: “We have witnessed a significant transformation in the auction industry, with online platforms becoming the preferred choice for buyers and sellers. As a result, the rostrum, once an integral piece of in-room auctions, has become obsolete. We have three rostrums from three separate auction houses in the Weekly Furniture & Estates Auction on Friday May 26”.

Abbeys’ own rostrum stand is one of those, at Lot 501. “The stand has been out of action for the best part of 3 years, so we made the decision to find it a new home”, said Matthew. “It was originally out of a court room and was extended in height when it was acquired. It’s a unique opportunity to own a piece of Melbourne auction history”.

David Young, from the well-known Young’s Auctions in Camberwell was surprised to find his old rostrum in the Abbeys Auctions rooms when he visited last week. “That rostrum brought back many happy memories for me, including my very first auction in October 1986”, said David. Young’s was established in 1930 by David’s grandfather Ernie Young, and closed its doors in 2015 after 85 years in the Auction business.

Also up for auction is a rostrum from the Leonard Joel Auction house. Leonard Joel were founded in 1919 and continue to operate after 104 years.

“Online auctions, as opposed to in-room auctions, are advantageous for sellers. We can reach more potential buyers across Australia and even across the globe”, remarked Fiedorowicz. “Online auctions are convenient and attract more interested people, creating competition and possibly increasing selling prices – which is a great result for sellers”.

For buyers, online auctions provide a level playing field, as all participants have access to the same information and can make informed decisions based on the auction details and property/item descriptions.

Online auctions have proven to be a win-win for both buyers and sellers, providing a more inclusive and efficient auction environment. As technology continues to evolve, the realm of auctions will likely undergo further transformations, reshaping the way properties and items are bought and sold in Australia.

The three rostrums are online now for bidding, with the auction commencing at 10am on Friday May 26. To view the auction catalogue and to bid online, please click here: https://www.interbid.com.au/abbeys/auctions/2226/client.html