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he iconic candelabra of Budapest's Széchenyi Chain Bridge have been an integral part of the city's landscape and history, and the announcement of the auction by the City Council has generated considerable interest. The auction was organised by the capital's Property Management Centre (BFVK) in our Fluenta Auction module, which BFVK staff have been using for years in their sales processes.
Auction preparations
Our client, BFVK, has been well practiced in preparing auctions in the Fluenta system, so they created this high-profile auction without difficulty. 13 buyers responded to the auction call and took advantage of the practice period to learn how the system works. This meant that during the live auction, they only had to focus on bidding.
Auction details
The auction, which was originally scheduled to last 1 hour with possible 5-minute extensions, ran for 8 hours. The total starting price of the 14 lampposts was €30,400, with individual starting prices ranging between €1,700 and €2,800. Our client set a fixed bid step of €77 for each item.
Our expert staff were on hand throughout the entire auction to assist both BFVK and the auction participants.
The stunning results
As a result of the lengthy competition, the final total was €132,100, so BFVK achieved a price increase of more than 400% compared to the starting price. The final price per item ranged between €5,240 and HUF €16,585. The 14 lampposts auctioned off will be distributed among 6 winners.
We are proud to have provided a platform for the auction of these iconic candelabras with Fluenta Auction. Our company and our team of experts are delighted that, through the many years of collaboration with BFVK, the auction has delivered a better than expected result. The Budapest City Council is now able to support the hospital of its sister city, Berehove, and the recovery of people injured in the war with an even larger amount of money. Thank you for allowing us to be part of this project that is important for both the city and the country.
Congratulations to the winners and to the BFVK staff for a successful auction!
Stay tuned for more exciting auction events!
Are you also interested in electronic auctions?
With the Auction module of our Fluenta software, you can have supplier terms and conditions compete in a rapid negotiation. During the online auction, prices and other important contractual terms, such as delivery or availability times or warranty conditions may all be renegotiated. The Auction module can handle both buying and selling auctions, while the electronic system allows you to have your suppliers compete at the same time, and much faster than in traditional auctions.
Leave it to the professionals!
If you would prefer playing it safe, we are happy to take on the complete process of organizing the electronic auction for you as part of our professional services. In addition, our experts will advise you on the most effective auction type and parameters.
In this case, you can simply watch the auction without having to actively manage it, while our team takes care of all the tasks: from the preparation of the auction tailored to your needs, through the notification and education of participants, to the delivery of the report on the audited processes.
For more details, check out our website.
Learn more about our Auction Mentor service
