Advertisement feature from Dealer Auction
Dealer Auction, the digital wholesale marketplace, is helping more dealers make the move to digital remarketing after extending its service to include vehicle collection and processing.
CEO Le Etta Pearce explains how Dealer Auction Remarketing Services opens the door to digital remarketing for all.
What advantages does digital remarketing offer compared to ‘online’ platforms?
“Before we talk about the advantage, we need to clarify the difference. Online is joining a scheduled physical sale event remotely. Digital is a different experience, designed for the digital environment. In our case, that means a slick and enjoyable interface, smart filters and instant alerts that make finding suitable vehicles a doddle, and real-time data buyers can use to guide their decisions. It also means access to more vehicles from multiple sources, 24/7, and rather than waiting for a sale event, vehicles are on sale the moment they’re ready. This all combines to bring a great, engaged buyer base to the platform which in turn creates a buoyant marketplace that supports the sellers, and increases speed to sell and performance.
Why have you added collection and processing?
“We talk to a lot of dealers who say their only barrier to switching to a digital platform like ours is their own ability to self-serve the physical elements. They know that going digital makes commercial sense but typically their size, volume of sales and operational models stops them making the change. Dealer Auction Remarketing Services gives them the option to outsource these tasks. It gives them the best of both worlds: all the benefits of a high-performing digital marketplace but with the convenience of a complete collection and processing service.”
How does Dealer Auction Remarketing Services work?
“We have partnered with a respected and established specialist with a nationwide network for the physical elements. The stock is collected and taken to a secure site where it’s photographed, appraised and listed on the platform. This can be done the moment it’s available or at a specific time, and can be placed on a same day, ‘buy it now’ or a timed auction basis. We also analyse thousands of similar vehicles previously sold to recommend the best reserve and start price, optimising the listing to attract maximum bids. Once sold, the buyer either collects or can arrange delivery.”
Does going digital improve performance?
“Yes, in several ways. Firstly, stock sells quickly on Dealer Auction – it takes 2.9 days on average. The option to have stock on sale the second it’s processed, instead of waiting for the “next sale” as you would traditionally, means faster returns. That minimises depreciation impact and cash back in the business, fast. Plus, we put vehicles in front of not just more buyers, but the right buyers: we have 5,000 of them who collectively receive 25,000 stock alerts every day. This means they know the moment a vehicle that fits their profile is available and have all the data they need to bid confidently and quickly.”
“So, if your remarketing contract is coming up and you want more control, better performance and faster returns with your next remarketing partner, consider going digital.”