NEW YORK, NY.- Bidsquare, a trailblazer in auction technology, is redefining the auction industry with the launch of Bidsquare AI Auto Cataloging, a game-changing part of the company’s all-in-one inventory and auction management software Bidsquare Cloud. This first-of-its-kind AI simplifies one of the most labor-intensive aspects of auction management - cataloging - by enabling auction houses to expedite the cataloging process with greater efficiency and accuracy.

Bidsquare AI Auto Cataloging: The Future of Auctions

Bidsquare Cloud now addresses a longstanding and time-consuming challenge in the auction industry: the intake process of tagging and recording inventory, crafting detailed, accurate descriptions and conditions for consignments, and assigning categories. With Bidsquare AI Auto Cataloging, auction houses can speed up these tasks, as well as research any item and understand what they can expect to fetch at auction, receiving low as well as high estimates for each item in their inventory. Bidsquare’s new AI Auto Cataloging simplifies cataloging and inventory management for auction houses, with this groundbreaking tool becoming a core feature of Bidsquare Cloud.

As part of this latest release, Bidsquare AI will generate cataloging requirements including: Item Title, Low and High Estimates, Description, Condition and Categories, all simply based on images uploaded by the user. Auction houses will still retain the ability to refine and edit entries, but the AI does the heavy lifting, expediting labor-intensive and tedious cataloging processes.

“AI is driving productivity and efficiency across all industries. We’re thrilled to offer an industry-first AI for auction houses to help alleviate one of the most time-consuming processes: cataloging, especially when it comes to large volumes of diverse items,” says Allis Ghim, CEO of Bidsquare. “From our start, Bidsquare has worked to provide auction houses with tech-forward tools to help advance and modernize their businesses. And leveraging AI is our logical step in further optimizing auction operations. Helping ensure that cataloging is faster, more accurate, and scalable to support growth with Bidsquare AI Auto Cataloging is a leap forward for efficiency, accuracy, and overall auction inventory management.”

Bidsquare Cloud: Powering the Modern Auction House

Bidsquare AI is just the latest innovation from Bidsquare. The company launched Bidsquare Cloud in 2022 and has since rolled out tools to revolutionize the auction industry. Bidsquare Cloud is an all-in-one auction management software that supports all the back-of-office operations that ultimately makes live, timed, and buy-now auctions more accessible and engaging for bidders, as well as being more profitable for auction houses by streamlining their operations. By providing the technology and tools to manage the entire auction process, Bidsquare enables these businesses to stay competitive in an ever-evolving industry.