Helping dealers get the best price for their stock and boost their bottom line
Motor dealers looking to sell an entire fleet, a single vehicle or a regular supply of part exchange vehicles need to make sure they’re maximising their opportunities at online auctions, urges Cooper Solutions. FullAuction, its trade-only online vehicle auction site, makes selling easy and more profitable. To help dealers sell better, Cooper Solutions offers top tips on professional remarketing.
An accurate listing and full description of the vehicle is the most important aspect of selling a car online. It enables dealers to understand what they are buying and have confidence in the seller. A car described honestly will maximise bidding opportunities and will encourage engender more sales. Key to attracting a good level of buyer interest, which in turn helps dealers get the best price, is presentation. Vehicles that are well prepared will retail quickly, improving stock turn and cash flow, so doing a proper valet will add more than an extra level of polish.
Barry Cooper of Cooper Solutions comments, “There’s a lot that dealers can do to help their vehicles achieve exceptional values at an online auction. As ever, honesty is the best policy, buyers are unlikely to be put off by a scratch or dent – they must be able to rely upon the listings so they know the true condition of the car they are bidding on. Sellers should also make sure they have a complete service history, V5 and MOT certificate. FullAuction allows sellers to indicate when the MOT expires and whether there’s a spare key available, as well as listing all the key documents.
“Armed with our top tips and the speed and accuracy of FullAuction, dealers can sell with confidence to attract strong bidding and boost their profits.”
Vehicle Listing should include the correct registration number, mileage and number of owners. Vehicle descriptions must detail the colour and condition, highlighting low mileage and any interior features, which may help to sell the vehicle. Photography is essential to enhance the description. Wash the vehicle before taking pictures and get shots of the interior and exterior, plus a photo of the service book. Use the best pictures first, using a full shot of the vehicle as the cover image.
FullAuction is an alternative route to market for franchised dealer trade cars, which attracts hundreds of validated buyers and is quick and easy to list, sell and deliver. User analysis confirms that many dealers are selling their stock before a physical auction house would have even collected it.
Cooper Solutions’ Top Tips for Sellers At Online Auctions
• Accurate Listing and Description – make sure the description includes, colour and selling points such as low mileage and factory fitted optional extras
• Vehicle Condition – Damage markers must be noted on all listings
• Preparation – Present vehicles in the best light by valeting to remove rubbish, excess dirt, stains (particularly those that look like they smell!) and personal belongings
• Presentation – Take lots of photos of the exterior and interior and select the best ones. Remember, good lighting is key to showing off your stock at its best.
• Tyre Tread Depth – Make sure you measure across all four tyres
• Service History – Ensure you have a complete service history, V5 and MOT certificate- a vehicle with service history will be more profitable than one without and am image off the service book provides evidence for buyers
• Photo Gallery – You should provide a minimum of ten shots of the vehicle (taken in the same location). Aim for four images of the exterior and three images of the interior including the speedometer with the engine running and the dashboard
• Vehicle Checks – Include a vehicle provenance check, which verifies whether a vehicle is clocked, stolen or still on finance
• Start Price and Reserve – Carefully consider the reserve price (this is only disclosed to buyers once the auction has finished) and set a realistic figure. Start your vehicle at a low price to attract early bidders and watchers