Digital voyeurs gain Worthy insights

The pre-owned luxury goods auction platform Worthy.com has added new functionality to its live auction experience for sellers.

For the first time ever, sellers auctioning their luxury watches and jewelry online can watch their auction as it unfolds, while having access to the high-definition photos and professional description of the item being auctioned, according to Worthy.

“The new live auction platform allows sellers to experience the excitement and fast-pace of a live auction while maintaining the security and trust that Worthy guarantees,” said Ben De-Kalo, founder and CEO of Worthy. “Sellers now have a completely transparent view of their auction by watching bids for their goods as they are placed.”

Sellers will be able to see the exact location of real-time bidders with the help of a color-coded map. Throughout the auction, the seller will see the location of each incoming bid with special markers indicating the volume of bids in that area and the current highest bid. Accompanying the real-time map is the detailed grading report of the item from which the buyers are basing their bids. The grading report includes a description of the item featuring style and quality as well as other item-specific details such as carat weight, cut grade and polish grade.

In addition, high-definition, 360 degree view photographs of the item are also accessible to the sellers. When there are multiple auctions going on simultaneously, the seller can easily shift from one to the next, never losing sight of their auctions’ status. This level of accessibility is meant to provide full transparency, allowing sellers to see for themselves how their item reached its market potential.

At the end of each auction, the seller receives a detailed auction summary as well as an offer to accept the highest bid. The summary includes the highest and lowest bids, the number of buyers that bid, the duration of the auction and the official final offer. Once the seller accepts the highest bid, they can receive payment via PayPal, bank transfer or a written check.