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What is a Sealed Bid Sale?
A Bid Sale, also known as a Sealed Bid, is an organized silent car auction where local used car dealers, wholesalers, salvage buyers and international shippers, visit franchise dealers and bid on their wholesale cars. Usually the bid sale contains the trade-ins that the selling dealer does not want to … Read More
Are Auction Sellers Fees Worth it?
This may seem like a simple question. After all, auction Houses have been the primary way we sell off our unwanted units for over 75 years. But is there an alternative? As my father used to say, “there are at least three alternatives to almost every business problem.” The real … Read More
Can Off-Site Auctions Be Your Best Choice?
Continued from Article: Argument for you to Focus on Wholesale I am not suggesting that off-site auctions are inherently bad, they’re not. Remember, my dad was an independent dealer and we spent the greater part of my childhood at auctions in Pennsylvania and New York buying cars for his dealership. No, … Read More
Kicking Out Our Most Prolific Buyers
Continued from article: Argument for you to Focus on Wholesale On a personal note, my first manager actually called wholesale buyers, “Lot Trolls”, a very derogatory term that annoyed me deeply at the time, since my father was an independent dealer. From my perspective, my dad represented middle-class America, a first-generation … Read More
From Lot Trolls to Trusted Partners
“Lot Trolls” Continued from article: Argument for you to Focus on Wholesale The GM paged Mike to his office – an imposing raised structure in the back of the showroom. As he approached the office, Mike had a sick feeling in the pit of his stomach. Like most salespeople he had a … Read More
Argument for you to Focus on Wholesale
Maximizing wholesale profit has been a struggle or even a nonstarter for franchise dealers since the pressure to increase new car volume at the expense of trade values is higher than ever before. But even as that pressure builds, the manufacturer-controlled programs drive our competition to lower prices, and it … Read More
Using Predictability with Transparency in the auction business.
The term transparency replaced the word honesty at some point in the early 2000’s as the buzzword for treating your customers with respect. Most of us learned pretty quickly that the internet created a need for the old school, good ole boys of the car business, to be honest, or … Read More
INFOGRAPHIC: How to Build the Perfect Condition Report for Your Auto Auction
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