OVE.COM SIGNS 100TH INDEPENDENT AUCTION PARTNER

ATLANTA – OVE.com – the world’s largest, 24/7 online wholesale vehicle marketplace – celebrated a centennial milestone last month when it signed its 100^th independent auction partner, State Line Auto Auction in Waverly, N.Y.

OVE.com is now the online partner of choice for approximately 80 percent of the National Auto Auction Association’s (NAAA) member auctions. Unlike other platforms, auctions must be NAAA members to participate on the OVE.com platform, so buyers can purchase confidently knowing that every transaction facilitated on OVE.com adheres to the highest industry standards.

“OVE.com plays a critical role in our remarketing strategy,” said Ben Lange, president, America’s Auto Auction. “Our partnership with OVE.com helps our dealer and commercial customers sell cars more quickly, and we’ve been able to touch cars that normally would not come to auction, so we're expanding virtually. Oftentimes we’re able to leverage our new online relationships into lane business; and on the buy side, we start to see the OVE.com buyers show up on our AWG simulcast screens and sometimes in the lane.”

As partners on OVE.com, independent auctions:

• Control the entire transaction, from setting their own fees to arbitration
• Easily list inventory, images and condition reports, especially if using the automated solution
• Avoid listing or membership fees and never pay anything until they sell a vehicle
• Expand their reach nationally and even internationally, especially since their inventory is exposed on Manheim.com’s PowerSearch

“Partnering with OVE.com is simply creating an extension of an independent auctions’ business online,” said Joe George, group vice president, Manheim Online Solutions. “Auctions can expect increased sales and an uptick in activity for their sellers, which translate into an increase in their own profits and stronger customer relationships.”

Many independent auctions prefer OVE.com for the support they receive including dedicated marketing support, strategy and consultative support, Customer Care and free instructor-led workshops.  The Wholesale Institute workshops travel to independent auction locations to teach dealer sellers how to buy and sell through the hosting auction. Many independent auctions report that OVE.com has become an essential resource for their business, helping them to maintain their company identities, strengthen existing customer relationships and garner new clients. 

Both buyers and sellers have continued to embrace online channels to move pre-owned inventory in the past year. In addition to an increasing number of independent auction partners, OVE.com has seen incremental growth in online sales in 2010. In October of this year, OVE.com surpassed last year’s total sales.

“We would like to thank the 100 independent auctions that have already signed up to partner with OVE.com,” added George. “Without their partnership OVE.com would not be where it is today. The independent auctions not only play a pivotal role in the total number of vehicles sold on OVE.com, but also help further the entire industry by supporting and promoting the quality standards that the NAAA represents.”

To become OVE.com’s next independent action partner, call 1-866-626-4346 or visit www.ove.com.

About OVE.com (www.ove.com)

OVE.com, Manheim’s 24/7 Bid or Buy Now wholesale vehicle marketplace where physical auctions play a central part in its success, is the only marketplace of its kind with a no-questions-asked buy-back guarantee (www.oveoffers.com) OVE.com connects buyers to the leading selection of inventory in the industry while offering them a virtual inventory of more than 25,000 vehicles to help them improve profitability anytime.