The Spring Market
I’m outta’ cars!!
One of the main reasons for an upturn in auction activity is perception. The glass goes from half full to half empty.
You start selling some retail customers, a few holes show up on your lot, and you gotta go buy some cars!
The signs are there, a vehicle you’ve been running for a couple of weeks gets some bidding activity and does more than you told the auctioneer to get.
You check your O.V.E. activity in the morning and some one hit “buy now” on one of your aged units.
You pull into a gas station and another local dealer pulls up and buys the car out from under you (after you got gas of course)!
Wholesaling cars is easy right!
If you plan to go to an auction this week do your homework. The Manheim pre-sale listing gives you an excellent overview of the vehicles you want.
A result of more people at the sale is getting from lane to lane becomes more difficult. You don’t want to miss the A-list cars you’ve researched the night before.
The consignment of cars will increase in the coming weeks. So shopping for inventory becomes a marathon not a sprint.
Selling at an auction right now is the most encouraging at any time throughout the year. But we’re not at full steam yet.
I talked to several dealers this week at each of the 3 auctions I attend who still sold a low percentage of their cars.
High levels of inventory in certain categories need to sell before prices climb.
The plentiful supply of off-lease vehicles may hold prices at a reasonable level. As you look for retail pieces that sell in your store, check those lease lanes for good deals.
And last but not least, the export market is still a mystery. I do not yet have my list of cars the shippers want.
But I do know the players!
Stay tuned.
Out for now.
Barry J.
Member of Manheim’s superseller club!
