ORLANDO -- How to allow auction buyers to bid for vehicles across competing auction company platforms until the sale is done, without the platforms having to work together?
Let outside vendors, rather than the industry giants, figure it out.
That's the view of some remarketers who realize that the major, competing platform players -- ADESA's ADESA.com, Manheim's OVE.com, and Ally Financial Inc.'s SmartAuction -- may not come together to provide that solution.
Mike Reid, remarketing manager at Toyota Financial Services Inc., said he believes cross-bidding across multiple platforms is a good idea because it exposes his vehicles to more potential buyers.
But he also recognizes that multiplatform selling must be viable and beneficial to everyone. He's keeping his eye on new technology from vendors.
"There's an opportunity there," Reid told Automotive News on the sidelines of the National Auto Auction Association conference here. "If someone can figure that out and it works well, I think they'll have a lot of people who actually migrate to it."
Currently, software enables the listing of vehicles for sale on two or three platforms at once. A vehicle appears on those platforms until bidding reaches the vehicle's reserve price, the minimum price the seller will accept, on one site. Then, bidding continues on that site, but the system automatically removes the vehicle from the other platforms to prevent the vehicle from being sold two or three times.