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February 27, 2012updated 12 Apr 2017 11:47am

Manheim aids vendors with online sales

With the number of those bidding online at car auctions on the rise, Manheim Remarketing has launched an interactive web service for those selling cars at auction. The Vender Online service will broadcast auctions live over the internet to vendors with an option to click On Sale once bidding for their vehicles has reached a level they are happy with. Auctioneer Manheim says the technology will allow vendors to participate in auctions they might not reach in person, or multiple auctions at the same time, as well as making for quicker decisions and reducing provisional sales.

By Richard Irvine-Brown

With the number of those bidding online at car auctions on the rise, Manheim Remarketing has launched an interactive web service for those selling cars at auction.

The Vender Online service will broadcast auctions live over the internet to vendors with an option to click ‘On Sale’ once bidding for their vehicles has reached a level they are happy with.

Auctioneer Manheim says the technology will allow vendors to participate in auctions they might not reach in person, or multiple auctions at the same time, as well as making for quicker decisions and reducing provisional sales.

Mike Pilkington, managing director, Manheim Remarketing said: “This enhancement to Simulcast is another first from Manheim and places us a step ahead of the competition.

“It has been designed to integrate with existing sale day operations so that auctions with attending vendors and auctions with remotely-attending vendors operate in the same fashion.”

Online sales are becoming prevalent with auctioneers, Manheim included. A recent Mazda specialist sale held by Manheim recorded that 27 of the 51 bidders were not physically at the event.

In November, second-hand car evaluator CAP reported both used-car stock buyers and traders were travelling further around the country to acquire vehicles in response to competition from online purchasers.

In January, fellow remarketing service British Car Auctions reported a new weekly record of 3,198 online sales worth approximately £3m, and that online sales were now accounting for a quarter of auction sales, up from a fifth for 2011 as a whole.

richard.brown@vrlfinancialnews.com

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