EU Business News has awarded ‘Best Virtual Auction Platform 2021’ to Irish-based company, LSL Auctions.
The company launched in 2014 as a virtual auction platform but was catapulted across Ireland to assist livestock marts, land and property and machinery virtual auctions at the beginning of the 2020 COVID-19 lockdown.
The Mullingar-based company provide live broadcasting and an online bidding platform for auctions. As COVID restrictions are relaxed across the UK and Ireland, the system has proved very popular with auction houses as a hybrid solution, combining the traditional auction-room floor bids and online broadcasting and bidding solution.
The system offers floor and online bidding, where online bidders have the privacy and flexibility of bidding online anywhere across the world.
For example, earlier this year, a land auction with GVM Property Auctions held on LSL was sold to a buyer, bidding from Abu Dhabi, UAE.
The company appeared on the ‘Late Late Show’ in December as one of the most innovative companies during COVID-19 restrictions.
It has helped many businesses across the country to keep operating with the virtual broadcasting and bidding platform, including livestock, machinery, land & property, motor, and antiques auctions.
The company claims to be the “largest provider to livestock auction marts across Ireland”.
It was awarded a major contract in Spain to FEAGAS, supported by the Ministry of Spain, to provide the LSL virtual platform to 120 pedigree livestock societies across the country.
Agents joining at a ‘faster rate’ than during lockdown
According to a company spokesperson, land and property auctioneers are joining LSL Auctions “at a faster rate now than during COVID-19 lockdown requesting the popular LSL Hybrid solution of floor and online bidding with live broadcasting”.
“Many land and properties have sold online with LSL for record prices over the past few months, including Ringtown House in Westmeath with Murtagh Bros, a 246.78-acre property sold online for €2,790,000.”
In Nenagh, Co Tipperary, REA Eoin Dillon sold 65.95-acres online with LSL for €1,085,000.
IPAV, YPN Novice Rostrum Auctioneer Competition 2022
The Institute of Professional Auctioneers & Valuers (IPAV) announced last week that LSL Auctions with its, Hybrid live broadcasting, online & floor bidding platform, would be the main sponsor for the IPAV, YPN Novice Rostrum Auctioneer Competition 2022 on February 11th, 2022, at Tattersalls, Ratoath, Co Meath.
LSL Auctions is the brainchild of Tullamore entrepreneur, Brendan Hannigan, who operates from offices in Mullingar, Co Westmeath and London, England.