Auctions serve multiple partners
To the Editor:
You recently published articles ("Next at auctions: Multiple platform sales," Oct. 28; and "Manheim exec: Why do so few sales at auctions close?" Dec. 2) that, as a 25-year industry veteran, former president of the National Auto Auction Association and ServNet member, I think need to be addressed.
The No. 1 goal of today's technologically enhanced brick-and-mortar auctions is to balance the varied remarketing needs of a very broad base of consigning partners with a potentially even more diverse group of buying partners that are trying to serve their retail partners.
This process has evolved over the course of the last 50-plus years, in which millions of vehicles have been sold through a process that has become both an art and a science.
Our newest challenge is multichannel remarketing, which looks at processing on average about 25 percent of the total consigned units, while the national average of 7-plus-year-old trades and those that other channels cannot handle are processed through the auction lanes.
What business would not like to put its product on a shelf one day a week, 52 weeks a year and sell 65 percent of it on that one day, and 85 percent-plus by the second week?
The silver bullet is actually the auction process if you want to consistently and professionally remarket millions of vehicles each and every year.
DAASW.com is a unit of Dealers Auto Auction of the SouthWest.