Cooper Solutions’ FullAuction has helped retailers increase their profits on used cars with almost 1 in 3 (28%) cars sold on the trade-only online vehicle auction site achieving in excess of 100% CAP Clean, despite the fact that 90% of those cars were in fact CAP average or below.
Barry Cooper explained: “June was a typical month for retailers selling through FullAuction with respect to where they made a significant proportion of their profits. Since 2011 it has become clear that around 30% of a retailer’s trade stock is highly desirable and if these cars are well described and set at a reserve price that encourages competitive bidding once the reserve is achieved, extraordinary profits and CAP performance follow.
FullAuction boosts average £PPU and CAP performance by optimising the mix of well described stock, a large pool of buyers and low transaction costs. The result is outstanding profits for sellers.”
FullAuction minimises transaction costs, has hundreds of validated trade buyers. It is quick and easy to list, sell and deliver. Many retailers are selling their stock before a physical auction house would have even collected it, and to buyers paying considerably less than they would at physical auction.