Skip to main content

It's On The Horizon

... There has been chatter lately in the lanes about the competition from above. No, not the devine, but from the screen above the auctioneers head. The online bidder. It's become obvious that there is an increasing presence of online bidders and depending on how the auction displays its online bidders, chances are you recognize the dealership. The difference is that that bidder was a traditional "auction guy" and now, has moved toward staying in the store and buying from there. So what is triggering this migration? The cars online are not pre-selected, better quality cars... infact yesterday at Southern Auto Auction (CT) a 1990 Mercedes SL500 had on line activity (the antithesis to only the newest, lowest mileage cars sell online). There is a growing comfort level and the understanding that if an on line purchase arrives at your store not as described, the seller/auction will take it back. This combined with the tremendous travel time savings has put the on line bidder right there on the horizon, and they are coming closer.

Comments

Post a Comment

Popular posts from this blog

Late Winter Market

It's not the northeast weather that is keeping the wholesale market in check, it is the overall blanket of slow retail sales at both new and used car retailers! * Subaru product is the most in demand at auction now, Hyundai another sought after product line. * Toyota shows increased prices on non-recall units, but not as strong as you might assume... more trouble ahead for the giant retailer? * The availability (or pure #'s of units) crossing the block is down at auctions overall; and the old economics 101... supply v. demand... is not at work right now. * As stated last post, large trucks are softening, luxury SUV's firm. * Honda Civic strong, Buick (yes, Buick) in demand: 2004 LeSabre LIMITED with 44K sells at an astonishing $9900. Compare that to a 58K 2004 Toyota Camry selling at $8900! Go Buick, go. * It is the economy, stupid. When it is all said, people are not grabbing out for another or new car. We are in a replacement mode at auction- that's it. Chat soon
1 comment
Read more

Friday afternoon

No auction today... a break in what has been a very busy 2 months with so much movement recently that a day away from the block is like a 2 week vacation! There is so much talk about where the cars are and what will happen next that taking this time to type away helps me balance out what I've seen since the snow melted. Most noticeable to me is the overwhelming demand for trucks... pick ups. Dodge/Ram pound for pound is the monster at market currently and if it is Cummins equipped, you cant guess high enough. Next are the half-ton Lariat and LTZ type Ford and GM trucks with gas motors, leather, NAV... chrome. Miles here aren't as important as equipment... the more the higher they go. The next segment of Dakota, Tacoma, Ranger, Colorado are equally sought after and because of lessor quantities, an 01 Ranger XLT 4X4 6-cylinder 4-door beauty with 54K miles still commands over $6000. The bottom line is that people are still working and need to move dirt and sheet rock and to...
Post a Comment
Read more

It's really much easier to understand!

In response to National Automobile Dealers Association’s chief economist Paul Taylor's comments, "Used Market Helping to Spur New-Car Growth" (Auto Remarketing Today, 12-3-10), I thought I would offer a bit of my own analysis. The increase in new vehicle sales is much easier to understand because the public buying decision has been so dumbed-down: $0 down $0 interest for as many months as you want! This alternative to fleet sales and endlessly evolving lease deals on the car makers part is very practical because "borrowing" sales now actually builds future availability of used product (Nissan Altima, Hyundai Sonata, and Honda Accord for example). And when these $179/mo models begin to come back to market, the very same marketers will already have in place a slightly different segment of new models at attractive discounted rates, there by repeating the cycle! Mr Taylor's analysis as a "shortage" in used vehicles should really have been branded as a...
Post a Comment
Read more