Every transaction in the wholesale auction industry revolves around one key question: What’s the value of this unit? Last week, Manheim introduced a new feature on OVE.com, its 24/7 bid and buy now wholesale vehicle marketplace, allowing buyers to “make an offer” and suggest the value they think a car is worth on designated Buy Now vehicles.
“The ‘make an offer’ feature puts full control in the customers’ hands to determine the true market value of a unit,” declared Joe George, group vice president, Manheim Digital. “Our goal is to give both the buyer and seller an opportunity to work a deal when they are close on price. It makes OVE.com a more dynamic marketplace by improving the possibility of dealers completing a transaction.”
Because seller engagement is important, all sellers are given the opportunity to decide if they want to receive offers on their Buy Now vehicles when they list each unit. Both sellers and buyers are notified proactively of offer activity when they login to Manheim.com and via email to ensure they don’t miss out on reaching a deal.
“After talking with dealers, we learned that opening dialogue within the marketplace was critical for them,” remarked Amy Mills, senior director, product management, Manheim Digital. “With the ‘make an offer’ feature, once the buyer has put his or her offer on the table, sellers aren’t limited to simply accepting or rejecting; sellers have the option to negotiate with buyers. At the end of the day, that exchange can be the difference in making a sale or not.”
Customers interested in learning more about how to “make an offer” can call 1-866-MANHEIM (626-4346).