Plantation, Florida- December 3, 2013- the success of Red Bank, New Jersey's first electronic tax sale during Hurricane Sandy's widespread power and utility outages on October 29, 2012 drove its recent decision to continue use of the Realauction.com electronic tax sale platform. Using Realauction.com, a market-leading provider of technology solutions for government agencies, Red Bank is able to host the entire auction process online- from registration through research and bidding.
Red Bank was one of several municipalities that chose to participate in New Jersey's electronic tax sales pilot program last year. Its first auction was scheduled well in advance of storm sightings, and most local citizens were without power, phones, or Internet access on the actual day of the event. Still, the small borough, which traditionally sold around 100 of its 200 to 300 auction items per year, instead sold 100 percent of its advertised items last year. A significant portion was awarded to bidders well beyond the New Jersey state border.
"We're enthusiastic about extending our use of the Realauction.com platform and continuing last year's momentum, which garnered over $600,000 in much needed revenue even after New Jersey's State of Emergency declaration", announced Constance Ludden, Red Bank Tax Collector. "The new electronic platform makes participation easier and safer while notably extending reach." Red Bank just completed its 2013 sale online collection premiums in excess of $960,000.
"We're delighted that Realauction.com is able to play a pivotal role in auction continuation and revenue recovery even during physically catastrophic events- providing our clients with one more vehicle for mitigating risk", explained Craig McIntyre, VP of Realauction.com "We were excited to continue our partnership with Red Bank in 2013 and to deliver the training and support participants need to succeed."