(Los Angeles, CA)—With online sales in 2015 of art alone projected to be over $3.5 billion, brick and mortar auctions, which have been around since 500 B.C., may well become an endangered species, just like record stores, video rentals and pay phones.
At least that’s the hope and vision of Los Angeles-based Nick Nassiri, the entrepreneur behind Bid Network Online (BNO), www.bno.com, the world’s first authentic live-streaming online auction site, set to launch August 13 (12 Noon PDT) with the theme All Things Art, including celebrity art by the likes of Tony Curtis.
It’s taken Nassiri 15 years to perfect the technology he envisioned to run a state-of-the-art business that would redefine the online auction experience as we know it, offering an exciting user experience with an incredible value proposition.
For sellers and buyers, Nassiri’s creation is very user-friendly and has the industry’s least expensive selling and buying premiums. BNO has built a special studio in Los Angeles to host its live auctions, which like a TV show, will be regularly scheduled throughout the month and anchored by a series of professional auctioneers and original entertaining video features between auctions, including stand-up comedians doing 2-3 minute routines.
Buyers will be able to log in to the auction when it starts and participate as if they were at a brick and mortar auction. The auctioneer interacts with the buyers in real time.
Sellers interact with the auctioneer to accept/not accept bids that are below the reserve price. Sellers are also spared the expense of shipping items to Los Angeles. They can simply supply descriptions, photos and videos that will be a part of the live auction presentation.
Among Nassiri’s many proprietary innovations is a Bid Jumper feature that allows the buyer to jump ahead of other buyers and outbid them without delay. If an auction item doesn’t meet its reserve price, BNO will list it in future timed auctions (such as those on eBay) at no cost, something no other auction company does.
Each scheduled auction presentation will be part auction, part show biz, adds Nassiri. “Our goal is to make the experience more visual, more entertaining, more fast-paced than any previous auctions, as we hope to attract many younger first-timers as well as veteran auction attendees.”
BNO auctions will typically be themed and cover everything from fine arts to jewelry, collectibles, wine, residential to commercial real estate, and even automobiles, both newer styles and vintage models.
BNO’s All Things Art “Premiere Auction” August 13 will feature art and photography, including artwork by world class artists Pablo Picasso, Julian Schnabel and Henry Moore, original oils by Tony Curtis, a rare Peter Max lithograph signed by the artist and every member of The Grateful Dead.
As part of BNO’s commitment to the community, it also offers non-profit organizations and charities the opportunity to engage and host in an online live-streamed auction fundraiser at absolutely no cost.