Many auction houses today are gaining competitive advantage and are maximizing their profitability by using auction solutions. For vehicle and insurance auto auctions, auto auction solutions enable them to communicate to potential buyers and showcase what they have in real time. Through live simulcast, auction houses, such as GSA auctions, manheim.com, openlane.com, ove.com and smartauction.com, are able to simulcast their auctions online and in real time. A lot of wholesale buyers are therefore able to see and bid on the vehicles in real time.
At the same time, there is more to just live simulcasts. A really good auto auction solutions offer the right technology and infrastructure to independent auction houses or sites and auto dealers. It is really a combination of advances in auction and marketing. For example, for GSA auction, with the right solutions, independent buyers, dealers and wholesalers can see the vehicles in different angles through multi camera simulcast. At the same time, it complements the GSA auctions website as it increases its online presence. GSA auctions website will therefore be more accessible to interested buyers and the auction community.
Aside from this, a good solutions company can also offer lane recording. This is very important in ensuring security and in legal disputes. Other important services or aspects of a good solution include multi lane bidding and frontline auctions. Multi lane bidding allows dealers to bid at different auction facilities in real time while frontline auction is for franchise dealer. Auto auction companies can therefore benefit from the solutions because of these additional services and because it increases their online presence. They can attract more buyers and engage them in real time. Great references here.