Professional Community for Car Dealers, Marketing, Advertising and Sales Leaders
Just following these 4 basic steps is the key to auction success.
1.) Find your ravenous market
2.) Get the studio humming
3.) O.V.E. everyday
4.) Prepare your auction "show"
The car auction lanes are filling up more each week. Now is the time as a wholesaler to have your selling line-up ready to put on a show at the sales.
You now have a block of numbers at YOUR auction. You have done your homework and you know what draws a crowd.
Its a simple concept- clean, detailed, retail ready looking cars sell for more money. Every piece you send to the sale has its warts removed.
The studio is the place you remove that ugly ski rack, put on that missing hub cap. You take the time to add that quart of oil and put on that perfect pinstripe!
You get that stain out of the seat and now the interior POPS when bidders look inside.
The first thing you do to each vehicle you pull out of the studio is get the beauty shots for your O.V.E. listings:
- 10 to 12 photos that tell the story of what your're selling.
- complete Manheim's online vehicle exchange template with accurate strengths and weaknesses (if any) .
-price it with MMR's (Manheim Market Reports).
-publish it !
Pre-reg the cars and trucks you will be sending to the auction. O.V.E has a " send to auction" feature in your inventory manager that works.. It allows you to control the order they come in the door.
Simulcast bidders will have your O.V.E listing on their screen. They bid with greater confidence.
Lane bidders will be there when your cars hit the block because they checked the pre-sale listing. If you have what they want, they'll wait.
When it's time for you to go up on the block to rep your cars, make all the necessary announcements needed.
Then have some fun!
Get excited about each offering you have. Yell a little bit if you have to! Make sure they know it is a one owner or has navigation or whatever!
When you're done you'll walk off the block saying "This is easy selling cars!!"
prepare to pay more for what you need. Filling the holes in your used car inventory becomes more challenging. Buying the vehicles you know will sell becomes more expensive. Just make sure the retail profit will warrant the higher wholesale price.
Last week I mentioned that shopping for inventory is a marathon, not a sprint. The most succesful buyers are consistent from week to week.
You may need 20 units, but maybe only 10 or 12 fit the price and selection criteria you set. That's OK. Move on to the next venue and continue your search.
2010 model year and newer SUV's show the most signs of life. Small SUV's of almost all makes are getting stronger. We also had success this week with Mercedes midsize sedans going as far back as 2006 models.
The surprise of the week was 2007 Dodge Calibers and 2007 Suzuki SX-4 hatchbacks joined the list.
I'll keep you posted on any new odd-ball additions to the list.
out for now
Barry J. Neuman
Member of Manheims Superseller club!