Fleet News

Online bidding doubles at Manheim

Trade buyer activity on Simulcast, Manheim Remarketing’s online link to physical auctions has got off to a flying start in the first two months of the year with 70,000 online bids, almost double the number achieved in the same period in 2010. So far this year the total number of vehicles sold online has risen by 9.3%, the number of dealer part exchange vehicles sold online has gone up by 12.4% and the number of registered online buyers has increased by 16.3%.

Results from 2011 also dispel the myth that Simulcast is restricted to a niche group of vehicles. The oldest vehicle sold on Simulcast so far this year was a 1990 ‘H’ plate Mini which was sold in Saltash to a buyer in Leicester, a mere 245 miles away. The lowest price vehicle sold online this year was a ‘N’ plate Volkswagen Polo for £100 in Bristol while, at the other end of the spectrum, Manheim Auctions, Mansfield sold a Porsche Panamera for over £70,000.

Commenting on Simulcast’s latest success, Mike Pilkington, managing director, Manheim Remarketing said: “For many buyers, logging on to Simulcast today is simply part of the normal working routine. In recent years many of our vendor customers have absolutely grasped its value in ensuring that their vehicles are made available to buyers, not just in our auction halls, but all over the country at the same time. With 30,000 online sales, 2010 was a record year for us but early 2011 results have exceeded our expectations with the acceleration of activity and no evidence that this has impacted on physical buyer attendance. Most trade buyers, from the large car supermarkets to the small wholesale trader, now consider online buying as a part of their acquisition strategy and our market-leading Simulcast service gives them much more choice and provides vendors with a much wider customer base.”

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