9:10 am, October 28, 2008
MANHEIM reports that the popularity of its online bidding and buying service reached a new high last month.
Monthly sales topped 1000 cars for the first time.
In total, 1009 cars were sold, at over 150 auctions ‘attended’ over the ‘net by 1023 individual dealers. Together, they generated more then 7000 online bids.
The online service, called ‘Simulcast’, has recorded sales 35 per cent up on last year. The number of individuals registered to attend auctions ‘virtually’ has gone up by two-thirds, with the number of active buyers doubling.
All of Manheim’s 19 centres are geared up to relay live auctions over the internet; 40 auctions a week can now be joined online. Good news for the trade as a whole, said Mike Pilkington, MD, Manheim Auctions & Remarketing.
‘The record number of online car sales achieved via Simulcast in September clearly shows that there is still a good level of activity in the market.
‘We know from our research that these buyers are often new to the auction environment, and that they are attracted online by minimising both travel time and avoiding travel costs.
‘The results also confirm that trade buyers are comfortable with the concept of online buying, where they can browse detailed condition reports on all cars, and trust both the process and the system – as demonstrated by the industry-leading increase in registered attendees, and the doubling of the number of active buyers.’
Proof that the future of car auctions may not be kicking tyres, but clicking mouses…
