Many dealers are now able t participate in real time auctions wherever they may be. In fact many dealers are even able to participate in different auctions in the comfort of their home or office. They can communicate and negotiate to the buyers as if they are in the dealership. This is because with the latest simulcast technology, online auction has been improved to the point that the limitations of space have practically been demolished. It is like having an auction live except all the participants are in their own locations. If you are not familiar with this, here are three things about online auction today.
First, online auction is the same as the traditional auto auction in the sense that all rules apply, including when it comes to insurance auto auctions. The difference is that buyers can view the vehicles online. One example is Ove.com. OVE or online vehicle exchange allows buyers to see more collection from different dealers. For OVE, this means more buyers, more bidding and more sales.
Second, using the latest in satellite technology, Manheim, Openlane, Smartauction and other online auto auctions Gsa auctions now take full advantage of the technology by showcasing their vehicles using multiple camera simulcast. This allows the buyers to see the vehicles in different angles, like he would in live auction. Third, for any dealer or seller online auction is having twenty four seven auction. The advanced systems today enable dealers to personalize and customize all their data so that they can respond automatically like in a traditional query from buyers. At then same time, dealers are alerted for any communication from buyers.