how important is lane position & time of sale?

How Important is Lane Position & Time of Sale?

WEDNESDAY, MARCH 9 Concurrent Session 1 4:30pm – 5:15pm

Ben LangePresident and COO

America’s Auto Auction

Les LynottManager, Vehicle Remarketing

EMKAY

Co-Presenters:

How Important is Lane Position and Time of Sale?

BEST to RUN 1st

“If you have the cars that I need & you represent your cars honestly and fairly, clean them up, provide a title on the day of sale, and give me an immediate decision, I will find the cars at the auction.” – Chicago independent dealer

“I only work with sellers who don’t try to screw me over! I often bid on the first few cars of a sale but I stay until the end for the right car and a seller who wants to do business, not waste my time.” – California multi-dealer buyer

How Important is Lane Position and Time of Sale?

BEST to RUN 1st

Lane position and time of sale are important

BUT

More important is competitive bidding when your vehicles are going across the block

Things to do to ensure buyers in the lane1. SELLER REPUTATION2. CARS READY TO BE SOLD3. REP IS ON BLOCK TO

SELL VEHICLES4. SELL HIGH %

5. CONSISTENCY IN SAME POSITION EACH WEEK SO BUYERS KNOW WHERE YOU ARE

6. PROVIDE TITLE TO BUYER IN PROPER TIME ALLOTTED

How Important is Lane Position and Time of Sale?

BEST to RUN 1st

No matter when vehicles run at auction, here are some important items to remember:

1. Allow auction time to get vehicles to facility.2. Have vehicles cosmetically ready to go day of sale3. Identify vehicles with sticker or balloon4. Have vehicle history so buyer feels confident in what

they are buying5. Rep cars and make decision on block – don’t put them

on a call unless you must6. Represent cars honestly because reputation keeps good

buyers coming back to buy week after week.

MYTH

Is There Money At the End of the Sale?

Is the Seller Important?

Does reputation matter?

Should Your Organization Fly Solo Or Be With Like-Minded Sellers?

Should Competitive SellersShare the Same Lane?

Competing Companies?Emkay running with Wheels, orSantander with Wells Fargo?

Competitive Vehicles?Rentals and Off Lease?

Competitive Make/Model?Hondas with Toyotas?

Do Titles present on day of sale make a difference in the lanes?

How Important is Lane Position & Time of Sale?

WEDNESDAY, MARCH 9 Concurrent Session 1 4:30pm – 5:15pm