Facebook Live auction by Live Bid Win.
Singapore is renowned for its pasar malams (night markets), where fast-talking auctioneers shift their wares at breakneck speed while shoppers bag themselves a bargain or two. And it would seem that the city-state’s penchant for the theater of live auction is moving online.
Several wholesalers and auction houses in Singapore are now regularly conducting auctions via Facebook’s live video streaming feature, Facebook Live. Would-be buyers don’t have to be physically present at the event, but they still get to participate in the bidding process – and enjoy the banter of the auction room – as if they were right there.
It isn’t entirely clear who initially came up with the idea of broadcasting auctions using Facebook Live, though Australian real estate platform Domain claims to have performed the first such event in May 2016.
Grunge Bidding MobCube, Hong Heng Mobile Auction, Live Bid Win, SG Auction House, and electronics wholesalers Urban Lion are among the retailers that started running Facebook Live auctions in Singapore earlier this year. Some auctioneers even appear to be on the road to minor celebritydom thanks to their Facebook Live performances; though they still have some way to go to match this guy…
Editing by Judith Balea
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