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Dealers Offer P/Xs to Wider Market on Manheim's Simulcast

Sun, 25 Oct 2009

Dealer part exchange vehicles are increasingly appearing on Simulcast, Manheim Auctions’ online broadcast of physical auctions, as dealers realise the benefit of offering part exchanges to a much wider trade audience, through this complementary sales channel. Indeed, the number of dealer vendors exploiting Simulcast has more than doubled from 220 to 443 since January this year and the number of vehicles offered has now exceeded 50,000. Received wisdom is that only lower mileage, higher value vehicles will attract online trade buyers. However, supported by highly detailed condition reports and multiple damage images, that assumption is no longer accurate: 22% of the total numbers of dealer cars sold online were for less than £1,000; 43% were between £1,001 and £3,000, with barely a third over £3,000.

Manheim Auctions’ Simulcast is the UK’s premier trade-only online wholesale channel, linking dealer vendors with trade buyers via the internet to physical auctions, providing a much wider audience than is actually present in the auction hall. With its UK centres geared up to broadcast live physical auctions over the web, Manheim Auctions is now transmitting live action from the auction halls for around 50 auctions every week. In 2008 13,517 vehicles were sold online via Simulcast and this total was already exceeded in July.

Commenting on Manheim Auctions’ Simulcast latest success, Mike Pilkington, Managing Director, Manheim Auctions & Remarketing said, “Simulcast just continues to expand as it becomes more readily accepted by a growing number of vendors. Rather than a novelty, Simulcast has become an integral part of the remarketing ‘landscape’ and is now recognised throughout the industry as a well established, trusted and reliable business tool that complements physical auction by bringing benefits to both vendors and buyers.”

 

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