NextLot Launches New Online Bidding Platform

NextLot, Inc., a Raleigh, NC, based online auction software company, is pleased to announce the launch of Nexus, the third generation of its industry leading online auction solution.

Nexus contains NextLot’s webcast, with the most real-time audio and HD video streaming in the industry, along with a new timed auction system and suite of administrative tools. Almost three years in development, the platform was rebuilt from the ground up using modern technology to fuel the next stage of the company’s growth. NextLot’s timed-online bidding interface has always been easy-to-use, but the company developed some new functionality to elevate the bidding experience for users. Now, bidders can view auction lots in a grid view in addition to a list view, enabling them to bid on 8 lots simultaneously. Once the auction is within 30 minutes of ending, bidders can enter Fast Bidding Mode where lots count down by the second and fall off the page in real-time once they close. NextLot also added some new admin features for its auction clients as well. Auctioneers can now link as many lots as they like together in a timed auction, so if one lot gets a bid on it during the bid extension period, all linked lots extend. This feature helps auctioneers to maximize the prices realized for all linked lots. Auction clients can also stagger lots in a timed auction as they close in multiple groups. They can close the small dollar items quickly to shorten the length of the timed auction close while giving bidders more time to bid on the high value lots.

Other key features of Nexus are its robust API to facilitate integrations with third-party applications, a mobile responsive bidding interface, and a mobile app which can be downloaded directly from the client’s online bidding site. Most importantly, Nexus has undergone extensive testing to ensure the stability of the platform prior to rolling it out to existing and new customers. It has been deployed on server infrastructure hosted on the Amazon Cloud, so the platform can support unlimited bidders.

With the release of Nexus, NextLot hopes to improve upon its already industry leading 99.99% uptime customers experienced in 2022. Scott Finkelstein, NextLot’s CEO, had this to say about the launch of Nexus: “I am very excited that Nexus is finally here. NextLot has been an innovator in the online auction industry and with Nexus, we will be continuing to improve the auction industry and provide auctioneers with solutions to help them achieve more bids and higher prices.”

About NextLot, Inc.

NextLot provides auctioneers with a fresh approach to online-timed and live webcast auctions by providing extremely easy to use, mobile friendly, privately branded software for three main auction formats: Timed Auction, Webcast, and Pre-Bid. NextLot, founded in 2007, has run over 37,000 online auctions and has sold $28 billion in gross merchandise value on its platform.

For more information on NextLot, Inc and services offered please visit www.nextlot.com or call 919-361-1111.