GNYADA 2019 Membership Directory & Services Guide

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WORKING WITH ONLINE AUCTIONS

Online auctions give dealerships of all sizes a convenient, up-to-the-second marketplace where they can buy and sell every kind of wholesale inventory all day, every day. Here are just five of the many reasons they may make sense for your business. A NATION-WIDE AUDIENCE OF BUYERS AVAILABLE ON DEMAND. With an online auction platform, sellers can put their inventory in front of thousands of buyers instantly. A large audience of buyers increases the likelihood of a successful sale. More buyers—more bids—more money! REDUCEDRISK OF DAMAGE DUE TOTRANSPORTATION, LOT THEFT, AND AUCTIONTEST-DRIVERS. Cars don’t leave your lot when auctioned online, eliminating the risk a vehicle might sustain damage during transport to the auction or on an auction lot. YOURMANAGERS ARE AT THE DEALERSHIP INSTEAD OF TRAVELING TO REP CARS ON THE BLOCK. Used car managers are an invaluable asset. When they’re on the road repping cars at an auction, who is reviewing retail pricing, accurately appraising trades and adequately setting up cars? Online auctions happen onsite allowing managers to stay in the store. Your cars won’t leave the lot to go to auction and neither will your managers. INSTANT LIQUIDITY MEANS FASTER INVENTORY TURN. It seems logical that the same level of attention placed on retail inventory-turn would be applied to wholesale. You wouldn’t limit yourself to selling retail inventory one day a week, so why are you willing to settle for selling your wholesale inventory at one-day-a-week brick and mortar auctions? Cars depreciate by the day, and physical auctions can easily take two to four weeks to cash a car. In that time, the car is devaluing as it ages in inventory. Online auctions allow vehicles to be cashed immediately, without the hassle and expense of physical auctions. Plus, you’ll actually know what your monthly statements look like on the last day of the month. INFORMED AND CONFIDENT BUYERS MAKE FOR THE MOST ACTIVE MARKETPLACE. Thorough and consistent condition reports coupled with hi-res photographs of the entire vehicle including detail images of the undercarriage, give buyers precisely what they need to make an informed decision and bid with confidence: the result, lower risk, stronger final bid prices, and satisfied buyers. 1 2 3 4 5

The next time you need to buy to sell wholesale vehicles, take advantage of the opportunities made available to you by online auction platforms. They put you in the driver’s seat.

Article supplied by Joe Neiman. For more information about ACV Auctions, visit www.acvauctions.com.

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