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 surpassed. AMS now forecasts dwarfing that figure by year-end 2004.

AMS also disclosed the rollout completion of its newest version of the OnLine Ringman system, which has received positive reviews from auctions, bidders, and consignors. First introduced to the marketplace in 1999, the system has proven a most reliable and resilient platforms with well over 1,000 auctions under its belt, according to company officials.

AMS expects to begin rolling out another major system upgrade in December. The new version will include further performance enhancements and an upgraded audio/video capability. While continuing to support bidders using modems, the upgraded audio/video feature will also 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 capability offers bidders with up to 10 frames per second while conserving bandwidth usage (cost) at the auction site.

Commenting on both announcements, Nancy Rabenold, president and CEO, stated, “As the pioneers of successfully simulcasting an auction over the Internet, it is rewarding to realize the $1 billion sales milestone. It reflects industry confirmation of AMS’s original and existing vision that the marketplace – both consignors and bidders – can and should expect more as it relates to the effective and efficient integration of technological advancements."