Known for the fast-paced nature of its online auctions, which often have you on the edge of your seat for a sprint of five seconds, live streaming platform Whatnot has decided it’s time to step outside its comfort zone. It’s breaking its own mould by introducing an extended auction format. Sellers are now given the opportunity to list their items for up to a whopping seven days, a stark contrast to the tradition of the flip-of-a-coin pillar that has characterized Whatnot’s auctions in the past.
But what could possibly prompt such a significant switch in gears? Well, let’s dive right into the rationale. This upgrade caters specifically to the sale of unique, high-value single cards. If you are a seller harbouring modern and vintage cards that can fetch a handsome price, you will welcome this chance to showcase your premium items on an enlarged stage and under enhanced visibility.
Yet, that’s not where the innovations stop. In a move that amplifies the effect of the extended listing period, Whatnot has unveiled a new feature that allows sellers to pin their longer auctions within their expertise and genre-specific live shows. This undoubtedly stirs the pot, providing them with multiple chances to draw attention to their high-priced items within the run of the broadcast, stimulating engagement and kindling the competitive spirit of potential buyers.
Whatnot’s new format aims to provide an absolute thrill ride to attendees of the auction, indirectly leveling the playing field. Bidders now have time on their side; there’s no need to fret over missing the boat due to a moment’s distraction. Sellers, too, can engage in deeper interactions with their audiences, nurturing relationships instead of rushing through transactions.
The strategic turn of the tide at Whatnot is expected to cast a wider net, attracting collectors and sellers who relish the chase for unique and costlier items and have been waiting on the sidelines for this very opportunity. This move is likely to fuel both the platform’s user base and activity. Sellers with an affinity for a more relaxed auction duration can find comfort in the extended format, without losing the dynamic, adrenaline-driven element of the live streaming service.
In a nutshell, while shifting the gears from a sprint to a marathon, Whatnot’s change is more than just surface level. It is a calculated move that respects tradition while embracing the need for change. It may sound like the Compass is pointing in a new direction, but that’s just evolution for you. For Whatnot, this extended auction format is their next step in the big game, keeping the thrill of the chase alive while carving out space for a new age of high-value item transactions.
