Well this is it - our final blog article in the series of how to use Specialty auctions most profitably. We hope you've learned a few things and are taking advantage of how Specialty auctions can help Power Your Profits. In this article we want to take a look at auction Remarketing Technology, and Condition Reports, along with brief videos to give you a little more background on how these tools help our buyers and sellers.
When an auction receives a pre-owned Specialty vehicle for sale,
the unit is checked in and an electronic condition report is created along with digital images and certification if applicable. In addition the unit is cleaned, minor mechanical work can be performed, and the unit is set for sale.
It is made available online on presale list
s and PowerSearch tools, and can be purchased through Simulcast. Auctions market the product through a variety of channels, including telemarketing calls, faxes and email. This increases the dealers’ chances of selling the vehicle the first time. At Manheim, once the unit is sold the buyer receives a guaranteed title and funds are transferred to the seller.
As always, we want to hear from you. Please contact us at specialtyauctions@manheim.com or 877-704-INFO (4636) to tell us how we can help you get the most out of your auction experience.
Karen Braddy is the General Manager of Manheim's Specialty and Heavy Truck & Equipment business. She has been with Manheim since 1990, and launched the Specialty initiative for Manheim in 2005.
We're now more than half way through our series on how best to utilize Specialty auctions profitably. Manheim auction locations talk daily with customers who are looking to auctions to help them buy and sell used inventory. We want to help dealers new to auction and those who utilize auctions but are looking for that extra edge with information to help them Power Their Profits.
Now, more than ever, Specialty customers involved in trading and 
selling previously owned Specialty vehicles are making auction their number one method of buying and selling. And they're finding that auctions are by far the most efficient and cost-effective way of managing, shaping and re-shaping their inventory.
Manheim writes white papers periodically to assist dealers, and we also encourage you to view these brief videos for additional thoughts on how to use auctions for both buying and selling inventory.
Good luck, and please contact us at 877-704-INFO (4636) or specialtyauctions@manheim.com to discuss how else we can serve you.
Karen Braddy is the General Manager of Manheim's Specialty and Heavy Truck & Equipment business. She has been with Manheim since 1990, and launched the Specialty initiative for Manheim in 2005.
Welcome to the third installment of our series on how best to utilize Specialty auctions profitably. We've created this series to help dealers who are new to auctions grow their comfort level and to offer some tips and tricks to those who have visited auctions.
The auction process is easier that some might expect. If you are new to auctions or simply new to a particular auction location, go ahead and plan a visit. Auction location personnel will gladly show you around, explain the details of the operation, let you meet the people, and get you comfortable with the process. Here are some tips on what you can do to get the most from your auction experience.
- Choose an auction that matches your needs. Manheim, for example, offers eighteen auction locations nationwide that specialize in monthly (or
more frequent) Specialty sales.
- After deciding on an auction to attend, you will need to register in order to buy and sell.
- Preparation before attending an auction greatly affects a dealer's experience. Preview units for sale and set realistic buying expectations to increase your chances of successfully purchasing the unit you want at a fair price. It's fairly easy to gauge pricing expectations when you plan your visit. The best gauge are the Market Reports from previous sales. These lists are available on-line in real time, as well as in print. They describe the unit and what it sold for most recently.
- Consult with the auction staff about your specific needs. Employees are there to help dealers enjoy a positive customer experience.
We look forward to helping you use auctions to Power Your Profits. Please contact us at specialtyauctions@manheim.com or 1-877-704-INFO (4636) with additional questions.
Karen Braddy is the General Manager of Manheim's Specialty and Heavy Truck & Equipment business. She has been with Manheim since 1990, and launched the Specialty initiative for Manheim in 2005.
We recently launched a blog series to help answer many questions we receive from dealers new to auctions. Manheim has produced an Auction Handbook designed to walk a dealer through the auction process, and we've also broken down the Handbook into a series of brief videos. A brief description of and link to the video is below. We hope you find it helpful!
Section 2 - How An Auction Operates
Today there are a variety of ways dealers, banks, rental companies and
manufacturers can take advantage of the opportunities auctions provide. By buying and/or selling pre-owned vehicles online or through the auction lanes, buying dealers can supplement their inventory during the busy sale months and continue to meet the ever-growing demand at the dealership. Selling customers can offer their inventory more often in the vehicle life cycle.
While we encourage you to spend some time with our http://www.manheimspecialtyauctions.com/ web site, we're also available to help you take advantage of all that auctions can offer you. Please contact us at 877-704-INFO (4636) or at specialtyauctions@manheim.com with any questions.
Karen Braddy is the General Manager of Manheim's Specialty and Heavy Truck & Equipment business. She has been with Manheim since 1990, and launched the Specialty initiative for Manheim in 2005.
We've seen significant growth in both the number of dealers utilizing Specialty auctions and their comfort level with auctions over the past several years. There are still many dealers, though, who have questions about how to get started and may be nervous about the process.
Manheim Specialty Auctions has created an Auction Handbook to help dealers who have yet to discover auctions (and to provide current customers with tips and tricks to maximize their auction experience). We've also taken the key points from our Handbook and converted them to a series of short videos. This article will be the first of a series designed to introduce you to the videos.
Section 1 -- About Auctions
Auctions are one of the oldest forms of commercial exchanges. They create a dynamic marketplace where bidding is fast paced and true market value is determined with each transaction. Auction remarketing services work well for Specialty customers who want to move their inventories quickly and get full market value. The following is a link to a video that tells you a little more About Auctions.
As always, please contact us at specialtyauctions@manheim.com or 877-704-INFO (4636) with any questions about how we can help you succeed at auction.
Karen Braddy is the General Manager of Manheim's Specialty and Heavy Truck & Equipment business. She has been with Manheim since 1990, and launched the Specialty initiative for Manheim in 2005.
We talk every week with Motorcycle, PowerSports, Boat and RV dealers looking for new ways to manage inventory and grow profits. Many of them are new to auctions, and some get discouraged because the units do not sell for what their expectations are. The mindset needs to be a wholesale mindset.
Dealers consistently tell us they are looking to sell at auctions both to have a method of selling customer trade-ins that may not sell at their dealership and to move aged inventory. Auctions are a powerful tool for both buyers and sellers, and Manheim created several guides including an Auction Handbook and 'getting started' videos as part of a Dealer Resource Center to help dealers get comfortable with auctions.
Here are some tips on how to adopt a wholesale mindset when pricing your units to sell at auction:
- Use a pricing guide like NADA or Black Book
- Register for the Manheim market report, which gives a monthly snapshot of what units have sold for at auctions
- Visit Manheim PowerSearch to see what units are currently available for sale as well as the asking price for s
elect units
- Consider the vehicle's condition in setting the price - your auction will be able to provide a condition report to help you
Once the units are units are priced to sell, you will be able move your inventory quicker to have less aged inventory on your lot. As you sell more at auctions you'll also develop a following of buyers who know and trust you, helping you generate more profitable sales.
Angie Loving is the National Operations Manager, and Karl Mitchell is the National Dealer Manager, for Manheim Specialty Auctions
As someone who's been fortunate to have personal and family experience with motorcycles and PowerSports at both the retail and auction level, I often hear from dealers who are experts in retail, but are looking for additional inventory sources.
Auctions are the answer.
Auctions are a terrific source of used inventory, and a key ingredient in building and growing a profitable used business during busy sale months, or when new model production is off.
They provide:
- Knowledgeable staff
- Inventory management that allows greater flexibility and comfort for trade-ins you don't typically sell
- Several sales per month to fill inventory needs or to sell aged inventory timely
- Multiple locations to choose from, making transportation simple
- Online buying options when you can't leave your shop.
To learn more about the ins and outs of auctions, check out our Auction Handbook.
Kim Miskotten is the national Motorcycle/PowerSports manager for Manheim Specialty Auctions.