Buyers Determine Market Value; Sellers Can Accept, Reject or Counter Offers
ATLANTA – Every
transaction in the wholesale auction industry revolves around one key question:
What’s the value of this unit? Last week, Manheim introduced a new
feature on OVE.com, its 24/7 bid and buy now wholesale vehicle marketplace,
allowing buyers to “make an offer” and suggest the value they think a car is
worth on designated Buy Now vehicles.
“The ‘make an
offer’ feature puts full control in the customers’ hands to determine the true
market value of a unit,” said Joe George, group vice president, Manheim
Digital. “Our goal is to give both the buyer and seller an opportunity to work
a deal when they are close on price. It makes OVE.com a more dynamic
marketplace by improving the possibility of dealers completing a transaction.”
Because
seller engagement is important, all sellers are given the opportunity to decide
if they want to receive offers on their Buy Now vehicles when they list each
unit. Both sellers and buyers are notified proactively of offer activity
when they login to Manheim.com and via email to ensure they don’t miss out on
reaching a deal.
“After
talking with dealers, we learned that opening dialog within the marketplace was
critical for them,” said Amy Mills, senior director, product management,
Manheim Digital. “With the ‘make an offer’ feature, once the buyer has put
his or her offer on the table, sellers aren’t limited to simply accepting or
rejecting; sellers have the option to
negotiate with buyers. At the end of the day, that exchange can be the
difference in making a sale or not.”
Mike
Collins, owner of Kool Kars in Nederland, Texas, agrees. “Everybody is looking
to save a little bit of money, so I would be happy to ‘make an offer’ while I’m
on OVE.com looking for inventory. It’s time consuming to find phone numbers,
pick up the phone and call sellers when I’d like to pay just slightly less.
This new avenue will save me time as a buyer and will provide another option to
help me make more deals as a seller.”
Dealers
can easily manage and track all offers from their Buying or Selling Activity
areas of Manheim.com.
Customers
interested in learning more about how to “make an offer” can call 1-866-MANHEIM
(626-4346).
About
Manheim (www.manheim.com)
Manheim
is the world’s leading provider of vehicle remarketing services. Through its
122 worldwide wholesale operating locations, Manheim impacts every stage of a
used vehicle’s life cycle, helping commercial sellers and automobile dealers
maximize the full value of their vehicles. Drawing from its auction
transaction volume, Manheim Consulting publishes the annual Used Car Market
Report, the definitive source of data for the used car industry. Manheim
Consulting offers a wide range of services including custom analytics, business
optimization and macro economic analysis.
Manheim
is the online vehicle remarketing leader, connecting buyers and sellers to the
world’s largest, most comprehensive wholesale marketplace through its extensive
in-lane and online offerings. Manheim.com receives nearly 900,000 visits
each week.
Additionally,
Manheim offers services including reconditioning, certification, inspections,
dealer financing, title management and marshaling, among others. Through its
wide array of services and technologies, industry publications, customer
support and educational offerings, Manheim gives its customers maximum control
over how they buy and sell vehicles, helping them to conduct business in the
most efficient way possible. In 2010, Manheim handled nearly 10 million used
vehicles, facilitating transactions worth more than $50 billion in value.
Headquartered
in Atlanta, Manheim is a subsidiary of Cox Enterprises, a leading
communications, media and automotive services company.
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