Fleet News

Online auctions gain popularity

AN increasing number of fleets and manufacturers are using British Car Auctions' Live Online service.

Ford, Vauxhall, MG Rover and now Jaguar are using the system, which allows remote bidders over the internet to compete with buyers in the auction hall. The first Live Online fleet sales in partnership with Motability took place late last year.

The company says this has continued successfully into 2004 with further Motability sales and the first Live Online sale for Bank of Scotland.

BCA Europe's director, remarketing, Keith Rogers said: 'BCA has been online for 13 of our 57 years in vehicle remarketing – and we've used all that experience to build, develop and innovate with our own systems, entirely BCA owned and operated.

'Because we are a full-service remarketing business, not just a software company, we provide bespoke solutions, not off-the-shelf products. Our systems come with all our know-how and knowledge of the business – as well as our buyer database.'

BCA launched the Live Online service in 2000 and has staged more than 100 Live Online sales to date.

The system has been developed in-house by BCA and utilises BCA's Vehicle Information Screens in the auction hall to display online bids, meaning the system is entirely transparent for both buyers in the auction hall and remote bidders via the online world of the internet.

Rogers said: 'Our electronic sales channels are entirely complementary to our physical auction programme and this is crystallised in the Live Online service. Figures from a recent sale with Motability show that 58 online bidders added their buying power to the 100 registered buyers in the auction hall.

'Nearly 40% of the sale entry was purchased online, with an estimated three percentage points increase in residual values on the day.'

He continued: 'BCA Live Online offers the best of both worlds, because it combines the best of the physical and the electronic – with real live bidders in our auction hall and remote bidders online via the internet, bidding from their PC keyboards.'

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