Online Auctions- your thoughts???

Christopher Roufail

Greetings,

My name is Christopher Roufail and I am doing some research on the automotive wholesaling industry and could really use some guidance. I am not a dealer in any way, I am simply just trying to gather data to better understand the industry and how it is running. As a dealership, you have many options for auctions to find inventory: Manheim, ADESA, Backlotz, TradeRev, Skipco & ACV Auctions to name a few. However, which one is the most beneficial?

Yea, Manheim is the market leader, but is it really the best option, given that auctions take place once a week, and must be in-person? It seems like a waste of time, right? My team and I are researching ACV auctions as a possible alternative and want to know your thoughts. On paper, it sounds revolutionary, but how does it benchmark to actual results? ACV states that they can cut many costs for dealers and it makes sense..... A dealer no longer has to drive the car to auction, wait a week for it to sell, (if it does), saves on auction fees and has a higher turnover. Nevertheless, it almost sounds too good to be true, so I’d love to hear your thoughts on it. I have attached a survey to fill out, I would really appreciate anything you can provide. Should you have any questions please let me know!

Thank you!!!

Please fill here: Auction Survey

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