In 2018, 16% of all remote bids registered were online. This is a slight increase on previous years. By far the most popular method of bidding remotely has been the telephone. For each of the past five years, around 75% of all registered remote bids have been from phone bidders. Despite the promotion of online only sales, the ratio of remote bids to lots sold has gradually declined over a five year period. In 2014 this ratio was broadly one remote bid per lot sold. Last year, it was down to 0.8. This is indicative of a growing preference towards attendance over absenteeism. In
our experience, bidders are increasingly favouring the opportunity to gauge the market and exchange views in a live trading environment. This is not possible remotely.