A brand new online auction website for car sales has launched in September 2017, promising to revolutionise the way in which motor trade dealers can sell their new and used cars: from trade plates to online trading, the future seems clear.
The brainchild of three ex-Mannheim employees (Wayne Ryder, Simon Smiddy and Dean Miles) who previously set up an online trading platform, DealerTrade Auction is available to three distinct groups of sellers: car supermarkets, franchise and trade dealers and fleet companies. The service was formed after a large six-figure injection of cash by Independent Motor Auctions (IMA) and is a collaboration between IMA and DealerTrade.
DealerTrade Auction’s main selling point is their low-cost approach backed by cutting-edge technology, which offers a smooth process for both buyer and seller. Indeed, the service is completely free of charge from the point of view of the seller, either to list a vehicle or post-sale, with any relevant fees passed on to the buyer. Moreover, the buyer fee in most cases will be in the range of £40-60, offering a truly cheap solution for both sides; some online car supermarkets can charge many times that figure. The service is the only online platform to offer a totally free service to sellers, with the developers indicating that typical fees away from their platform can be as much as 10% of the vehicle price – this cost is now replaced by a nominal fee.
The service is being widely promoted by the two companies, which have more than 100 years combined automotive experience. There are two physical auction sites available for buyers and sellers, based in Blackpool and Leeds, together with the all-new online platform. The auction site removes much of the usual hassle and costs of selling.
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Using the service is simple. Vendors upload photos and particulars of each vehicle such as technical details, insurance policy group, performance and so on, with the car or van staying on the seller’s premises throughout. Once a winning bid has been made, the purchaser pays the seller directly, meaning that the vendor can control the process; the buyer is then charged the small fee for using the service. IMA’s list of clients is impressive, with most already committing to use the new online service. These include some of Britain’s larger car dealers, franchises and fleet buyers including the Arnold Clark Group, Vantage, Cars2, Alliance Healthcare, British gas and Colin Appleyard Group.