Manheim reports sharp rise in online bidding for first two months of 2011
The firm says that for the first two months of 2011 trade buyer activity on its Simulcast online link to physical auctions has nearly doubled, with a total of 70,000 online bids placed. And so far this year the total number of vehicles sold online has risen by 9.3% and the number of registered online buyers has increased by a massive 16.3%.
Manheim Remarketing's Simulcast links trade buyers via the internet to physical auctions, where they can view, bid and buy vehicles in real time, competing with other online buyers as well as buyers actually in the auction hall.
Commenting on Simulcast's latest success, Mike Pilkington, managing director, Manheim Remarketing, said: 'With 30,000 online sales, 2010 was a record year for us but early 2011 results have exceeded our expectations with the acceleration of activity and no evidence that this has impacted on physical buyer attendance. Most trade buyers, from the large car supermarkets to the small wholesale trader, now consider online buying as a part of their acquisition strategy.'
Manheim says that upgrades to its Simulcast service in recent months have helped bring about the rise in online buying activity. New additions include a proxy bidding system that enables the buyer to submit online a maximum bid and Simulcast automatically bids on their behalf during the auction. In addition the Manheim Remarketing website and Simulcast screens now include service history, MOT and registered keeper information on most vehicles.
And additional support has been made available by Manheim Remarketing in communicating the benefits of Simulcast including a series of auction centre road shows to support buyers.
Manheim Remarketing is now transmitting live action from the auction halls for around 50 daytime and evening, car, van, truck and plant auctions every week.