G3 Remarketing launches physical car auction following record year
The latest expansion sees G3’s four-acre headquarters being redeveloped to make way for a new physical auction hall for the non-prime finance returns and part exchange market.
Set to cater for car supermarket vehicles of up to £5,000 in value, the site will soon house a 30,000 sq ft viewing auditorium, buyers’ lounges, vehicle preparation facility and space to store up to 200 vehicles under cover.
The project is set for completion at the end of January, ahead of the new weekly auctions commencing on 2 February and every Tuesday evening thereafter.
Commenting on the expansion, G3’s joint director Matt Dale said: “The company was founded because we believed there was the need for a high quality, independent, live online car auction in the industry. We’ve perfected the technology for this type of trade, and worked hard to raise the bar, ensuring every vendor and buyer is looked after from start to finish.
“However we’ve been increasingly approached by buyers and vendors of part exchange vehicles, who seek the same quality of service but still want to see, hear, touch and smell the cars. Given we’re ideally situated off the M62 and M1, we’re therefore extending our offering to echo the same level of standards within physical auctions too. We feel there is a really compelling argument to establish a truly independent, customer focused auction facility to serve not only the north of England but the entire UK.”
The firm said its online customers would also benefit from the development. The £0.5m investment includes the construction of a £150,000 state-of-the-art inspection studio, which will allow HD images and videos to be captured of all vehicles remarketed through the company, building on the audio walk around narratives already provided. The online platform is also being streamlined to accept virtual bids for the Tuesday night events and a new company website will be revealed in February too.
Focusing initially on the market in the North of England, there are already plans to acquire further acreage, which will double the size of G3’s Leeds-based headquarters. The company added that the longer-term aim is to expand both online and physical auction sales throughout the UK, either organically or via acquisition.