Atasbid aside, Seng Ngee is also the second-generation proprietor of Chan Ngee Trading Co, an antique shop in Chinatown. Over the years spent assisting his father, Goh Yong Chiang, in running the business, Seng Ngee observed how various trends affected their appeal and sales. In particular, he predicted the rise of e-commerce, and started dabbling with online sales as early as the 1990s, during the nascent days of eBay. The success of these early experiments encouraged him to make bolder forays into the realm of e-commerce, eventually culminating in the creation of Atasbid in 2018. Moving the business online enabled Atasbid to attract a broader range of customers, and also helped them weather the worst of an unprecedented pandemic. Atasbid has been recognised by various government agencies as an exemplar for applying modern solutions to a traditional industry, and a role model for other heritage businesses to learn from.

The word “auction” tends to conjure an image of bidders raising their paddles while seasoned auctioneers call out leading bids in rapid-fire rhythm. One might think of the famous Tsukiji fish auction in Japan. For an example closer to home, one might recall the neighbourhood auctions held occasionally at pasar malams (night markets). Atasbid, however, takes auctioneering into the digital sphere. 

Atasbid holds their monthly auctions virtually via their namesake app, which provides photos and details for every lot and enables digital bidding on each. Each auction usually contains several hundred lots, and lasts about a week. During this period, prospective bidders can place bids on any of the lots at any time – the highest bids  are locked in only at the end of the entire auction period. Although the opening stages of an auction tend to progress in a slower fashion, Seng Ngee shares that the last few hours are usually very exciting. The closing hours of these auctions are often frantic with activity, with bidders urgently rushing to top each other’s bids.

Although Atasbid makes it easy for customers to bid on antiques with just a few taps and swipes on their devices, plenty of work occurs behind the scenes to create this convenience. In the weeks before an auction goes live, the Atasbid team is typically hard at work sorting, labelling, photographing, and researching every item.The auction listings can be created only after this team is done, comprehensive and full of the information customers need to evaluate each lot and place their bids. This process cannot be automated, because each antique is unique and requires individual attention. Preparation for an auction can therefore be both time and labour-intensive.

The work doesn’t stop once the auction goes live either, as the Atasbid team monitors the progress of their auctions closely, and continues to work behind the scenes. They create and share short videos featuring particular auction lots to drum up interest and help consignors meet their desired sale prices. Through their app, the team also keeps their bidders updated on items of interest, giving them real-time information on the highest bids, and notifying them when they are outbid by others. Given all this legwork, the seamless online auction experience delivered by Atasbid requires just as much effort and attention to detail as any brick-and-mortar business.