BCA has launched Appraise, Value & Sell, an online service developed specifically for UK retail dealers by British Car Auctions.
The new service comprises three modular components that provide a range of benefits for used car sellers. Appraise, Value & Sell generate consistent and objective appraisals, and accurate real time valuations, says BCA.
Dealers can use just one, two or all three functions and as a web based tool the product can be used by any computer with an internet connection - from tablet to desktop. BCA Appraise, Value & Sell was launched to selected franchised dealers late last year and is now available from BCA nationwide.
The ‘Appraise' function enables dealers to record a vehicle's condition and automatically generates a condition grade, while the ‘Value' function uses BCA's 600,000 annual auction results combined with over two million additional data points to derive a trade value - which is adjusted daily using a sophisticated logarithmic program developed in conjunction with Deltapoint.
The service is currently tested to 99% accuracy in the field and BCA believes it is the most accurate, live valuation tool in the marketplace. A value is automatically produced as part of the ‘Appraise' function, but dealers can bypass this and generate a value using an assumed average (BCA Grade 3) condition.
All vehicles stored on the system can automatically be re-valued at the touch of a button, giving dealers real time information on the value of their retail stock.
With the ‘Sell' function, dealers can automatically send vehicle details including appraisal report and images to BCA for remarketing. The dealer can choose to place the vehicle in one of BCA's regular online-only sales which include Bid Now, Buy Now and e-Auction, as well as entry into a physical auction.
BCA's commercial director D'Vidis Jacobs said: "Appraise, Value & Sell has been developed exclusively for retail dealers by BCA. It has been tested with some of the UK's biggest and best known motor retail groups and the reaction has been universally positive."