B2B asset auctioneer DoveBid flying high - Online bidders winning more than those on-site.(Company Business and Marketing)

When DoveBid Inc. took its well-established capital asset auction services online earlier this year, many thought buyers would balk at bidding for industrial equipment worth thousands of dollars over the Web. But in six months, DoveBid's expectations have been exceeded-and then some.

The Foster City, Calif., company will release statistics this week that show both buyers and sellers are reaping the benefits of auctions that are in person and Webcast or held exclusively online. For example, online bidders are winning more auctions than on-site bidders, and sellers are getting higher bids from online bidders, in some cases a 30 percent premium over the next closest on-site bidder, said DoveBid President and Chief Operating Officer Jeffrey Crowe.

"Many of the on-site bidders are dealers who are looking for a low price on an item and then 'flip' it to another buyer," Crowe said. "Now we are reaching the end user, who will pay a higher price but ultimately get a lower price than they would have paid from a dealer."

It's a win-win situation, except for those dealers. But even they are happy because the universe of buyers has increased. Crowe said Webcast auction participation has increased more than 50 percent over standard on-site auctions this year.

Jeffrey Simon, president of Jesco Enterprises Inc., of Linden, N.J., is one dealer who realizes that, while online DoveBid auctioning has taken some business away from him, the presence of online auctions benefits everyone ...