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May I have Your Attention Please !
 
"Take the trouble to stop and think of the other person's feelings, his viewpoints, his desires and needs. Think of what the other fellow wants, and how he must feel." Maxwell Maltz
 
The ACV Auctions online phone app, allowing dealers to buy and sell wholesale inventory.....
Has reached the breaking point.....
The level of annoyance that may signal the end of our using it.....
I have deleted the app.....
They get no more of my attention....
I tried to be a good consumer.....
I paid attention to every listing.....
I quickly researched every vehicle that popped up in my phone.....
And bought a few.....
At first.....
But they put no value in that....
And while they continue to grow.....
Adding new territories in Ohio, Washington D.C., and Eastern Mass.
George Charmoun, CEO, predicts increased use of their service.....
He says the demand strongly demonstrates that Franchised Dealers are truly embracing the ACV Auction solution for wholesale.....
He believes his 20 minute live auctions save dealers time and money.....
ACV Auctions state that their technology "modernizes the entire arc of auction operations"
All of this is true.....
As part of their audience, I witness all these features....
But much like a new toy you got for Christmas when you were a kid.....
The newness wears off.....
The constant interruption of your life at any time.....
From sun up.....
To Sundown or later.....
At first I tolerated it.....
As I said, I bought a few.....
However, with their growth, they've allowed the inmates to run the asylum.....
More and more listings appear that begin their bidding overpriced.....
No one bids.....
Nothing sells.....
More and more dealers have set reserves too high.....
So even if you stop what your doing, jump in, bid to the very end thinking- I'm high, I win!
A little red button pops up with the seller's amount they will accept (usually too high)
More of my time and attention wasted.....
Now I know this sounds like sour grapes......
But it's not......
At the end of every day, all the vehicles that went live are there.....
You can count the ones that got sold.....
You can count the ones that didn't.....
You can count the ones that didn't even receive a bid!
Many of those relisted several times.....
And every time my phone CHIRPS.....
But it chirps no more.
 
 
Speaking of new toys.....
I've been having a blast the last few weeks on Instagram.....
It's the perfect social platform for me.....
To work on all my weaknesses.....
Namely, me in front of a camera.....
I can practice in 60 second intervals.....
Getting a quick message out about what is happening in my business.....
All of it.....
The good....
And the not so good....
I can document everything.....
So much of the Auto Wholesale business is predicated on your ability to predict what vehicles are worth at an auction, or online, to other dealers.....
Demonstrating the Auto Arbitrage Formula as it happens.....
The purchase of each car or truck.....
The steps to take showing what to do to market each and every one.....
And the conclusion....
The Sale......
Win or lose.....
It just doesn't get more authentic than that!!
So.....
Each episode becomes a glimpse of what is happening in the Market.....
In REAL TIME.....
The ups.....
The downs.....
The processes.....
THE GRIND of buying and selling cars for a profit.....
Nothing is made up.....
All I have to do is be me.....
It's pretty cool.....
Watch it @ wholesaler8923
 

 
OK spring market.....
WE'RE READY!
After getting our butts kicked by Mother Nature for the first two weeks of February.....
Not one, but two Nor'easter's with snowfalls exceeding 9 inches each.....
We have now come out the other side.....
With the break in the weather last week we sold 78%.....
But more importantly.....
The profits were bigger.....
A lot bigger.....
A couple of cars did more than we had them listed for on OVE.com.....
As temperatures reach into the 60's here.....
We are able to restock.....
And we anticipate each Auction Show to get better right through March......
I'm dancin' now!
 

 
We decided to push the envelope some on our OVE.com listings.....
The site likes to pride itself on restricting dealers from posting their vehicles more than 20% over MMR (Manheim Market Report).....
And it's a position we respect.....
In general.....
But the flaw lies in rising market prices.....
MMR's are based on what sold.....
Some times reflecting back as far as 30 days.....
So if prices are going up.....
And you are looking at what things did a month ago- you're missing the boat.....
Do your homework.....
If what you are selling at live auctions is doing more.....
Figure out what that percentage MORE is.....
And at least for the next 4 or 5 weeks.....
Add that percentage of MORE to your future listings.....
Your profit margins will thank you!
 

 
 
I'm still looking forward to attending.....
Gary Vaynerchuk.....
Jon Acuff.....
Dr. Nicole Lipkin....
Scott Stratten.....
Peter Leto....
And all the industry influencers.....
March 7-9 2017
Should be exciting.....
See you there.....
 
out for now.....
 
Barry J. Neuman
Member of Manheim's "Superseller" Club

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