Auto auctions, whether they are in-lane or online, want to do everything they can to help you buy and sell more cars. For that reason, most auctions give dealers free desktop and mobile tools and services to make it easier. After trying one or all of these free services, I can guarantee you’ll never go back to the old ways again!
Since the internet is a big place, here is a list of seven free online auction tools to give you a better understanding of what’s out there.
Typically, a physical auction’s run list is found in giant stacks on tables in the auction lobby, and it usually consists of 100,000 pages (give or take) that dealers have to sift through to find the information on the cars they want to look at.
To make it easier, auctions also put the run list entirely online for easy access on your desktop or mobile device! This helps reduce time spent at the auction and makes it easier to find the vehicles you need to buy.
Every buyer knows the type of vehicle that they can sell fast and that makes them more money. Those are the ones you search for over and over. With online saved search, you just set up your search criteria once and save it, and it’s always there for the next time.
Once your saved search is set up, you’ll be notified by text or email alert every time a matching vehicle is added to the run list. Then you can take action right away. You don’t want to miss the good cars, do you?
Most buyers think they know the wholesale value on every car, but with the huge number of makes, models and options, that’s just not reality anymore. Before you buy or sell a vehicle, you can put that type of vehicle on a Watch List and keep track of the activity on that vehicle, to see how many bids that kind of car gets, how fast those cars sell and how much they sell for, giving you the info you need to make great buying and selling decisions.
AutoBid is quite possibly the greatest invention since sliced bread. When you go to the physical auction, there’s always a chance of getting caught up in the excitement of bidding in the lanes, and you end up paying too much. But with AutoBid, you can set the price that you want to pay, and then walk away.
For example, if you set your max bid at $15K and the last bid is $14,300, you own the vehicle. If the price goes to $16,800, the system automatically passes on it and notifies you that you were outbid. When the auction is over, you’ll be able to look at the data and find out how much you lost by. No surprises. Full disclosure.
By integrating your inventory management system (like AAX, vAuto, FirstLook and others), you can streamline wholesale buying and selling to make it even easier to find the cars you need for your lot and to get rid of the ones you don’t need.
The Favorite Auction feature is another really useful tool for dealers. Whether your favorite physical auction is nearby or hundreds of miles away, mark that location as a favorite. Then you can use it as a shortcut to join a sale or view that auction’s run list.
Whether you’re buying or selling, in-lane or online, it’s still about the people. You need to be able to pick up the phone and call somebody at the auction that knows you, to help you take care of the details—gate passes, arbitration, titling, funding—anything that you might have a question about. Even though it’s a digital world, people still make it happen!
We’ve barely scratched the surface of what’s available by talking about these seven. There’s plenty more where that came from. If you haven’t tried any of these tools, go ahead and try at least one or two. The auctions want you to use these tools, they’ll be happy to help you learn how to use them, and you’ll be glad you did.