With no sign of any easing in the current recession and property prices continuing to fall, businesses are now looking at cost effective solutions to help them grow. O'Donnellan & Joyce auctioneers, one of Galway's largest auctioneering groups, based in Galway city, has embarked on a innovative solution — live video streaming of auctions via the company’s website.
Traditionally, an auction is a process of buying and selling property where bidders offer up bids and the item is sold to the highest bidder. Auctions have a long history, having been recorded as early as 500BC, and the only drawback is that a bidder has to be represented or present in the room.
With the development of live streaming, auctioneers can now solicit bids online.
“We want to give our bidders the full experience, looking at a flat page of text does not capture the buzz and excitement of an auction,” said Colm O'Donnellan of O'Donnellan & Joyce. “With real-time live audio and video streaming our bidders can participate from anywhere in the world and get the full experience.”
To achieve this, Solid Media Ltd, a local multimedia production company, was chosen as it has vast experience in this area and offered the full set of skills required.
“Haven spoken to a number of companies, Solid Media offered the best solution,” O’Donnellan added. “Having vast experience in filming live events, concerts, conferences, and seminars, they came to use with a full turnkey solution.”
Shane Lyons of Solid Media added: “Last year we developed our own bespoke content delivery network, Solid Delivery, which uses cloud technology to deliver clean, live, HD video to any device and any size audience. With this, we are able to keep costs to a minimum as clients do not need to subscribe to any third party vendor, and our video player can be shared and embedded easily on any web device.”
2012 was an extremely successful year for O’Donnellan & Joyce, with 92 per cent of all properties that were placed up for auction selling. By offering clients the ability to participate online, the company is looking to improve on this figure.
The company will commence its 2013 auction season on Friday March 15 when it will place a large number of properties under the hammer. Anyone wishing to have a property included in the next O’Donnellan & Joyce auction should contact Colm O’Donnellan on 087 2887446, Tony Joyce on 086 2529110, or Anne Harding on 086 8173335.