Auction Management Solutions, Inc. (AMS) announced that, in partnership with the ServNet Auction Group, Auction Broadcasting Company, and others, more than $1 billion dollars in sales to OnLine Ringman bidders from around the world has been achieved and surpassed. AMS is now forecasting to dwarf that value by year-end 2004. AMS also announced that it has completed the rollout of its newest version of the OnLine Ringman system, and is receiving positive reviews from auctions, bidders, and consignors. The OnLine Ringman system was first introduced to the marketplace in 1999 and is used at more than 1,000 auctions. AMS expects to begin rollout of another major system upgrade in December 2003. The new version will include further performance enhancements and an upgraded audio/video capability. The upgraded audio/video capability will continue to support bidders using modems as well as provide significantly faster and higher quality video to bidders on broadband or high-speed connections. According to Brian Hardway, vice president of Auction Systems, the new audio/video capability provides bidders with up to 10 frames per second while conserving bandwidth usage (cost) at the auction site.

Originally posted on Fleet Financials