The auction industry is facing numerous challenges amidst the pandemic
In 2020, the auction industry was heavily impacted by the global COVID-19 pandemic. With the industry primarily focused on offline auctions, the suspension or cancellation of planned auctions, reduced revenues, and unsatisfactory labor conditions resulted in a significant downturn in business.
This impact was compounded by increased costs associated with epidemic prevention and control, personnel, rent, and taxes. Moreover, upstream and downstream industries such as catalog printing, hotels, logistics, and exhibitions, were also affected, exacerbating the challenges facing the auction industry.
Despite these difficulties, many auction businesses have adapted by transitioning to online auctions and digital solutions, accelerating the trend towards digitalization in the industry. This response has spurred innovation and investment in new technologies to address the challenges posed by the pandemic.
Online auctions for cultural relics and artworks are gaining momentum
High operating costs, rent, and taxes are the primary pressures faced by companies in the auction industry. To mitigate the losses caused by the pandemic, 72.79% of companies surveyed indicated plans to work remotely or transition to online operations as much as possible. Some companies (8.35%) considered salary cuts or layoffs, while 14.5% had not yet decided on specific measures.
It has become a general consensus within the industry to use online auctions as a way to mitigate operating losses. Online auctions involve the sale and purchase of specific items or property rights transferred to the highest bidder through public bidding over the Internet. The development of the Internet and other network technologies has fueled the growth of online auctions.
Compared to traditional on-site auctions, online auctions offer several advantages, such as enabling auction company employees to work from home, allowing consignors and bidders to participate remotely through wireless technology, and expanding the geographic reach of auction participants. This results in more effective value discovery in the auction process.
Pursuing practical and innovative models for future development, establish large online auction market
Promote corporate, social, and self-responsibility through online auctions, sharing economic resources
Enable everyone to reach their potential, create market and life value, and improve quality of life
ENJOYBID – Beyond an Online Auction Platform
ENJOYBID is committed to helping collectors increase the value of their collections through its unique online trading platform, which creates economic advantages for collectors. The company uses its permits and expertise to conduct auctions and resales of items such as jadeite, calligraphy, and paintings, in order to promote auctions and increase the market price of these collectibles.
ENJOYBID is more than just an online auction platform – it provides a unique opportunity for ordinary people to participate in the auction industry and receive rewards for their involvement. This innovative business model is set to bring new life to the auction industry and become a major trend. All you have to do is to join us and take advantage of this opportunity!
3 ways to make money on Enjoybid
Push up prices for live auction
Join our online auction and increase the price of the lot to earn a 10% bonus on the amount of the increase. Spend 10 minutes or more, Earn RM50 to RM200 every day
Sell or resell lots on Enjoybid
Directly snatch the lot, then initiate a second auction, resell and be auctioned by others, If the auction is successful, those who resell will receive a 1% bonus
Build your own Enjoybid team
Create your own Enjoybid team by inviting your friends or anyone you know to join. The more people you invite and the more they earn, the more you can earn as well.
With the ENJOYBID APP, not only can you experience the fun of low-cost products from our online auctions, but you can also take advantage of the platform’s unique reward mechanism, which allows users to make money while participating in auctions.
ENJOYBID User Testimonials
I recently shopped at this mall and was very satisfied. There is a variety of goods, good quality and reasonable price. I am very satisfied with the logistics. I will recommend this store to my family and friends.
If you want to make money from home, then I highly recommend using ENJOYBID Auctions to make money. The whole auction process was very exciting and made me feel like I was playing a fun game.
I recently tried to make money using EnjoyBid auctions and was very happy with the platform. It is a very good platform that allows one to make money easily during the auction process.
Join us now! It will only take a minute.
CONGRATULATIONS ENJOYBID E-COMMERCE SDN BHD AWARDED IAQ INTERNATIONAL 5 STAR BRAND CERTIFICATION
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