China, shanghai — After experiencing the severe impact of Covid-19 in 2020, small auction houses that rely on offline auctions have closed down one after another, and the large auction houses are also gradually changing, shifting their core business to online. It is undeniable that online auctions have become the future trend.
In addition to the extremely high threshold that makes most people unable to participate, the high service fees and intermediary fees have always been the major defect of traditional offline auctions. In order to solve this issue, Auction Lux has created a most innovative auction strategy that combines online auctions and crowdfunding models with blockchain technology. In 2022, Auction Lux officially launched the “Collaborative Auction Program (CAP)” which allows everyone to participate.
The unique business model of CAP launched by Auction Lux is to open up expensive auction items that ordinary people can’t afford, allowing all investors to invest and profit through a model of crowdfunding. CAP launched by Auction Lux has broken the tradition that only High Net Worth (HNW) investors can participate in the game of auctions.
Auction Lux, established in China in 2020, was founded by the famous Wu Family Office. Meanwhile, The Wu Family Office is also the core management of Auction Lux. The business of the Wu family Office is spread all over the world and involves many fields, including real estate, financial investment, auction industry, aviation industry, navigation industry, luxury industry chain, and so on. Depending on the rich resources and huge influence, the Wu family Office has successfully built Auction Lux into a leading first-to-market auction platform in the industry.
Auction Lux is committed to revolutionizing the operation of the online auction market with blockchain technology. Auction Lux has an independent team responsible for identifying and discovering assets and items that are undervalued on the market. Therefore, the vast majority of auction items on the platform are having huge appreciation potential. This also provides unlimited opportunities for Auction Lux to attract bidders and investors in the market.
The Chief Executive Officer (CEO) of Auction Lux, Mr. William Callahan said in an interview: “Auction Lux has tapped into the most professional team and Blockchain technology to our current and future services, to create a secure and transparent online auction platform. Meanwhile, we have a unique channel to distress those assets with huge appreciation potential in the market.
“According to data released by Bloomberg, the capital of the global crowdfunding market has exceeded US$89 billion from 2018 to 2022. We believe that Collaborative Auction Program (CAP), which combines crowdfunding with auctions, will create great success in the future. ” Mr. William Callahan stated. These favourable factors have won the reputation of the market for Auction Lux, and also made Auction Lux gain recognition in the auction industry.
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