Distributed Auctioning network - for sellers to increase the market range, by listing the inventory and conducting synchronised biding on multiple marketplaces.
$150 billion worth of cars are auctioned by (corporate clients: insurances, leasing companies, banks) every year, and its done in a most inefficient way: manually with each marketplace separately, making the entire inventory siloed and acquisition process increasingly hard for a larger audience. We’ve solved this entire process with increased transparency and eased integration using blockchain and now we are providing solution to the corporate seller.
Shelf.Network Allows corporate clients to list the used car inventory and conduct synchronised biding on multiple marketplaces (re-sellers) at the same time - allowing them to Increase the market range, save time, bring transparency to trades and get a higher price, within a click of a button.
Over short period of time network is already live in 3 European countries (Lithuania, Ukraine, Georgia) and around 30 auctions are conducted daily. Shelf.Network is a universal auctioning infrastructure and automobiles are only our first asset class and over the course of time we’ll be looking at foreclosures, collectibles and commodity trades.