Gallery Auctions begins listing on LiveAuctioneers
SUCCESS STORY
Gallery Auctions reduces payment processing overhead by 25%
Texas-based Gallery Auctions leveraged Live.Payments to reduce their payment processing overhead and build a brand new storage facility with their influx of new business.
How an online shift enabled Gallery Auctions to grow 6,000 ft²
When COVID-19 swept the United States in 2020, live auctions were put on hold, posing a massive threat to the traditional auction industry. Quick to adapt, Gallery Auctions shifted the entirety of their business onto LiveAuctioneers and began hosting their weekly sales online. Within the first four months, Gallery Auctions saw average auction sales increase by 5X.
With stellar auction results, Gallery Auctions were soon confronted with the burden of sales tax compliance, and enrolled in Live.Payments to automate tax calculation, collection and remittance.
By streamlining their processes with Live.Payments, Gallery Auctions not only saw a reduction in sales tax overhead, but also an increase in bidder payment rates and overall satisfaction. In less than one year of enrolling in Live.Payments, Gallery Auctions was able to expand their business with a 6,000 square foot facility.
How an online shift enabled Gallery Auctions to grow 6,000ft²
When COVID-19 swept the United States in 2020, live auctions were put on hold, posing a massive threat to the traditional auction industry. Quick to adapt, Gallery Auctions shifted the entirety of their business onto LiveAuctioneers and began hosting their weekly sales online. Within the first four months, Gallery Auctions saw average auction sales increase by 5X.
With stellar auction results, Gallery Auctions were soon confronted with the burden of sales tax compliance, and enrolled in Live.Payments to automate tax calculation, collection and remittance.
By streamlining their processes with Live.Payments, Gallery Auctions not only saw a reduction in sales tax overhead, but also an increase in bidder payment rates and overall satisfaction. In less than one year of enrolling in Live.Payments, Gallery Auctions was able to expand their business with a 6,000 square foot facility.
25%
Reduction in Payment
Processing Overhead
5X
Increase in Avg. Auction Sales
Within First Four Months
Leaning into Uncertainty and Coming Out Ahead
Leaning into Uncertainty and Coming Out Ahead
March 2020
Gallery Auctions begins listing on LiveAuctioneers
November 2020
Enrolls in Live.Payments to ensure tax compliance and began using as only invoicing system
Spring 2021
Begins construction of 6,000 square foot facility
June 2021
Exceeds $1.5 million in invoices captured through Live.Payments
Fall 2021
Storage facility is completed
“There’s no way this building would’ve been built had we not joined the LiveAuctioneers family at the start of the pandemic. Their Live.Payments solution has saved our team countless hours, empowered us to operate more efficiently, and enabled us to forge more positive relationships with bidders. Everyone here at Gallery Auctions is very proud of our partnership with LiveAuctioneers.”
Jon Goodling
Vice President, Gallery Auctions
Image: Gallery Auctions