I grew up attending auctions like Manheim and Adesa with my immigrant father and my two older sisters. Driving down to Pennsylvania to pickup cars for our used car lot was a weekly tradition in our household. I never imagined that I would see the decline of such great institutions in my lifetime. So even [...]
Smart Phones: The Tool of Choice for Used Car Wholesale Managers AuctionSimplified.com reciently concluded a two-month study on wholesale buyers, determining whether or not they are using smart phones or desktops to browse their sites. They found that used car sourcing managers show a particularly strong connection to their mobile devices. In fact, 62% of their buyers are using [...]
To Sell or Not to Sell that is the Question? There’s a debate going on with managers representing cars at auction. It concerns the battle over sell rate (also known as sell through) vs wholesale profitability and its impact on buyers. It has been described by industry insiders as the great problem with the modern used [...]
According to the latest edition of Black Book Market Insights, overall prices for cars at auction dropped by 0.62 percent or $73 last week, which was higher than the average declines seen over the previous four weeks. Trucks, on the other hand, saw values fall by just 0.27 percent or $44 last week, which is in [...]
Dash Light is on: How Do I Explain This to my Auction Bidders? So the car you are trying to sell at your dealer auction has the engine warning light blinking. It can mean trouble for the person (bid sale attendant) trying to merchandise this car online to their wholesalers. I recommend full disclosure, because it [...]
Closed for Business Last Tuesday I drove down the used car golden mile of Buffalo NY, a street called Delaware Ave. If you're not from the area, there are about 20 successful used car lots within a few miles. After my fifth stop without finding a soul, I realized that it was auction day. The lot [...]
