TULSA, OK--(Marketwire - Oct 29, 2012) - Auction Network®, the global interactive programming network owned by Williams, Williams & McKissick (WWM) celebrates its fifth anniversary, today. After telecasting nearly 18,000 live auctions of real estate properties valued at more than $2.5 Billion and offering viewers the opportunity to bid in real time against bidders participating on site, Auction Network has built a sizable library of auction video entertainment content, enjoys a growing viewership and has an impressive track record for audience engagement. While Auction Network has reason to celebrate, it continues to look ahead, unveiling new leadership, new programming and new live auction coverage.
"When we created Auction Network the idea was to leverage technology to bring more people to live, on-site auctions to increase competition and results," says Pam McKissick, WWM CEO and founder of Auction Network. "We married our television and media expertise with our auction know-how to create a real time, remote bidding experience that is second only to physically attending the live auction. It is virtual reality at its finest."
Each live auction day, an Auction Network in-studio host takes viewers around the country, introduces each auction and live auctioneer, provides auction results and highlights what's up next. Viewers are taken to the property through videos, virtual tours, extensive photo galleries and live audio from the auction location. The live auctioneer addresses both the on-site attendees and Auction Network participants simultaneously, providing terms and conditions and answering any questions they may have before the auction begins.
"Auction Network is the opposite of an 'online only' auction strategy," McKissick adds. "Online only auctions are like Twittering versus dating. If you really want a strong response and connection, you need to have the product in front of you. Real estate is no different."
To take Auction Network into its next growth phase, the company has named Matt Williams, Vice President of Programming and Development, and has promoted Bonnie Childers to Director of Auction Operations. Williams joined WWM in 2011 and has a strong background in creating, writing and producing original content for HDNet, Broadcast News Corp and the non-profit organization, Feed The Children. Childers has been with Auction Network since its launch and has a deep knowledge of auction logistics.
On the programming front Auction Network is launching a new original program called "Auction Limelight" this month. From penthouses to luxury ranches to private airports, "Auction Limelight" is an "MTV Cribs" style look back at the extraordinary homes auctioned by Auction Network's sister company, Williams & Williams® Worldwide Real Estate Auction.
Responding to the needs of Institutional sellers, Auction Network is also launching a new live auction program with real time bidding called, "Investors Only Live." Shot and produced in the Auction Network Studios, "Investors Only Live" is a fast-paced, informative look at upcoming and currently live real estate auctions taking place around the country with a call for bids.
Since its launch in 2007, Auction Network has more than proven that it is delivering on its original mission. For the first two years of its existence the Network focused primarily on non real estate sales. In partnership with and on behalf of major brands and celebrities including the Grammys and U2, Universal/NBC and Battlestar Galactica, and Make a Wish Foundation and Paris Hilton, Auction Network telecast live auctions and generated the majority of sales for these live on-site auctions.
In 2009, Auction Network started telecasting and offering real time remote bidding on real estate auctions. Over 85% of the properties auctioned benefit from heightened competition between on-site bidders and bidders participating through Auction Network. Seventy-five percent of the time on-site bidders deliver the high bid and 25% of the time an Auction Network bidder wins the auction.
"Despite early industry skepticism, I was convinced people would bid $500,000 instantaneously at the push of a button. Five years later, there are fewer skeptics," notes McKissick. "Obviously, bidders must trust in the brand and the system they are using to have this level of comfort."
About Auction Network®
Auction Network is a global interactive programming network that merges the sport and spirit of live auction with the ability for the audience to watch and engage in the thrill of bidding, in real time, from anywhere in the world through the Internet. Through its high-energy entertainment coverage, Auction Network provides viewers an inside look at what's for sale; exclusive previews with sellers, local authorities and others who help add to the back story; history and emotional stories behind the auction items; and live tours of the region where the auction is held.