In October 2021, an exciting news broke out, and the expected online auction platform “Enjoy Bid” of Poly Auction Co., Ltd. was finally officially put into use, causing a buzz.

“We’ve heard about the “Enjoy Bid” before and have been looking forward to it. After all, auction has only been seen in movies before. Because the threshold of enjoying auction is very low, not only high-end enterprises can auction, and average person can also participate, so everyone wants to have a try and feel the treatment of millionaires in movies.” A member of Enjoy Bid from Haifang said that the advent of “Enjoy Bid” narrowed the gap between the rich and the poor in this industry, made this ancient culture more people-friendly, and allowed average person who has this hobby to have a great “fun”.

What is “Enjoy Bid”?

As we understand according to the research that Poly Auction Co., Ltd. was incorporated in 2011 with a registered capital of US $500 million. The headquartered in located in Hong Kong——an important economic and Trade Center in the world, and its Superior company is Poly Hong Kong Auction Co, Ltd. The main business are the auction and trading of jadeite raw stones, calligraphy and paintings and works of art. At present, our company has accumulated auction turnover more than ten thousands of times, with a cumulative transaction amount of more than 10 billion yuan. It has become a prestigious auction company in Hong Kong and even in the world. Its dealers around the world have formed a huge digital group network to help the development of the auction products trading industry.

Enjoy Bid adopts a new Internet thinking. The online auction platform does not simply copy the offline auction logic to the online, but uses the network management system to carry out subversive innovation. The management system will accurately record all “bidding” participants to protect the interests of each beneficiary. The company has its own authoritative appraisal resource advantages, Highly developed and deeply combined with the experience of offline traditional auction, the company has made subversive innovation by using the network management system to solve the problems that cannot be solved in the process of traditional auction, and devoted itself to building a “new online auction platform” in the Internet era.

The biggest advantage of the platform is to lead the people to participate in the new experience of online auction without barriers. The platform mainly adopts B2C and C2C auction transaction modes, with open, transparent and direct information, so as to accurately link “supply” and “demand”.

The vision of “Internet plus” is to create an innovation mode and provide an Omni-directional service for the industry. With the mission of “inheriting, promoting, disseminating and realizing higher value, and helping members maintain and increase their wealth”. And adhere to values: promote the evolution of traditional business to intelligence, wisdom and customized services with craftsmanship spirit. With data as the core, technology as the means and the Internet as the platform, it provides the industry with intelligent comprehensive solutions for data and system services to create high-value returns for customers and users.

In early 2020, as coronavirus pneumonia was a serious epidemic, and auctioning industry was dominated by offline auctions. The business has been seriously affected. The planned auction has been suspended or cancelled, the revenue has been reduced, the resumption of work and the actual operation of the enterprise are not ideal, resulting in a “blank window” of the business. The epidemic prevention and control costs, personnel costs, rental taxes and fees will put great pressure on the enterprise’s operation. At the same time, they will also have varying degrees of impact on the upstream and downstream industries such as antique catalog printing, hotels, logistics, and exhibitions and so on.

Since late January 2020, the figures marked that affected by the epidemic, There were no less than 2000 auctions has been forced to suspend, and 60.26% of enterprises suspended the auction to varying degrees. Among them, 41.17% are forced to suspend 1-2 games; 14.68% suspended for 3-5 games; 4.42% suspended for more than 5 games.

In order to reduce the losses caused by the epidemic, 72.79% of enterprises said they planned to work remotely or try their best to go for the online business, 8.35% said they would consider salary cuts or layoffs, and another 14.5% had no specific measures. It can be seen that it is a general consensus in the industry to hedge business losses by online auction. The scale and popularity of online auction market continue to expand.

In recent years, the global online auction market has continued to heat up, mainly in three aspects:

1. The number of users participating in online bidding continues to rise. In 2019, more than 30 million bidding users participated in online auction activities, an increase of nearly 50% over the previous year;
2. More clients are willing to choose online auction;
3. Auction companies have significantly improved their awareness of using the Internet, and the number of bidding objects has increased by 77% compared with 2018.

In terms of market scale, in 2019, according to the starting price of the bid, the online auction market The scale of the auction has exceeded 3 trillion (including streaming auction and repeated auction), an increase of about 30% over 2018. The number of auction targets is about 1.3 million, an increase of 40% over 2018. The epidemic broke out in 2020, and the auction business dominated by offline auction was also seriously affected. The online auction market ushered in a development opportunity – the online auction of cultural relics and works of art “made great strides forward”.

At present, online auctions are mainly aimed at middle and low-end collectors. Bidders are more for the purpose of collection and exchange, not just for investment. In addition, there are certain limitations in the auction display. Therefore, the types of online auctions are mainly small works of art such as jade, stamp products, coins, calligraphy and painting, such as high-standard auctions such as porcelain and classical furniture. The main market is still in the traditional auction.

The sudden outbreak of novel coronavirus pneumonia has suspended the auction industry. In this case, the world auction organization committee issued a notice on the 13th of February to the industry < Announcement on Novel Coronavirus Pneumonia Support for Cultural Art Auction Enterprises to Conduct Online Auctions>. Join hands with relevant network platforms, technology companies and logistics enterprises to support many auction enterprises to carry out auction activities through self-built systems or third-party platforms through technological innovation, fee reduction and activity organization, communicate and coordinate with relevant government departments to simplify the approval process of cultural relics auction targets, and successively support the organization of large-scale online activities on E-auction global, Yachang, Amazon and other platforms, Accelerate the study of online auction business rules and norms.

Some insiders pointed out that in our traditional auction process, there are clients, platforms (auction companies), countless bidding people and buyers and sellers. The largest number of people in the transaction process, that is, countless bidding people, participated in the process, but they had nothing to do with them after the transaction, so they became helpers and didn’t get any profit from the middle. Obviously, enjoying the auction is a deep understanding of this disadvantage. Through the registration and certification of members to auction and transfer the auction online, as long as they participate in the raising of cards and bidding in the online auction system, they will enjoy the right of premium. In this way, everyone can have a sense of participation and enjoy rights and interests. Once some valuable collections are sold at high prices, they can harvest full and open another life.

The online process of entrusted auction is simple and efficient. In particular, all kinds of personalized items, collections, works of art and personal works with special personality can be obtained on the platform to communicate with the majority of collection lovers, and directly entrust the platform to auction or transfer. The auction client only needs to ensure that it has undisputed ownership (disposal right) of the auction object, provide the platform with relevant certificates and materials of the auction object, truthfully inform the platform of the defects of the auction object, and conduct the online auction after the platform appraisal expert group confirms that the auction object (or property right) is consistent with the description of the client. The whole auction transaction is the process of transforming the auction products from price mechanism to value mechanism, and the process of developing the auction market from stock to increment, which greatly starts the kinetic energy of “auction”.

In the near future, Enjoy Bid will continue to forge ahead and popularize the cultural industry of auction to every ordinary family and even the world, so that all mankind can feel the charm of Enjoy Bid.

At present, this new Internet plus auction mode is still in its infancy, and the future will surely become the next draught.

At the beginning of 2021, the company completed the recruitment plan and will start comprehensive marketing. It is expected that by the end of 2022, by taking money from our pocket to subsidize users and allowing users to make money, we will complete the preemption of products and services in major regions and the user market! And began to gradually involve the market occupation of other countries and various international first tier cities.

The people who interested in can take advantage of the current promotion period to try first to earn a wave of platform subsidies, which is also a very wise and advanced choice. Big brand, guaranteed, safe to use.

Enjoy Bid company address: 58 Tố Hữu, Trung Văn, Nam Từ Liêm, Hà Nội