9:53 am, February 2, 2017
FROM time to time, a market commentator will suggest that traditional vehicle auctions are losing ground to digital-only marketplaces, either in the quality of stock available or time to sale, for example.
Typically, the different remarketing channels are portrayed as being mutually exclusive and in competition with one another. It’s ‘Online vs Physical’, when the reality is both have a vital role to play.
These routes to market are complementary in delivering an efficient and effective marketplace that meets the needs of sellers and buyers alike.
In fact, the quality and average value of vehicles reaching the physical remarketing sector continues to rise, while time-to-sale continues to fall. And when it comes to handling large volumes of vehicles of every age, mileage, model and condition both quickly and efficiently, the physical auction route has no peers.
The availability of stock is crucial and while some buyers prefer the convenience of buying online, others will prefer to buy vehicles they have seen ‘in the metal’. The real competition is for the buyer’s wallet and that requires a choice of ways to buy and a wide range of good quality vehicles to meet the needs of businesses ranging from sole traders to the biggest dealer groups.
At BCA, the growth of digital sales is supported by an on-going expansion and investment in the infrastructure of BCA’s physical auction network. The continued growth of our Live Online and other digital channels is underpinned by some significant investments in our imaging, appraisal, payment and platform technology that provides buyers with a consistent, reliable environment to trade
BCA reported record bidding activity through the Live Online platform during November, as average monthly penetration reached 27 per cent of sales. At any one time there will be hundreds of dealers logging on from around the country. Customers can move between physical and digital seamlessly and it is not uncommon to see buyers in attendance in one location bidding for vehicles elsewhere.
You need all the building blocks to deliver the best remarketing service – efficient logistics and defleet capability, a comprehensive physical network and great digital platforms, with a full suite of supporting services. In short it is all about being easy to do business with, however our customers choose to use us in the physical or virtual world.
Who is Simon Henstock? He is BCA UK’s Chief Operating Officer – Remarketing. Visit bca.co.uk or call 0845 600 6644.
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