Dale Pollak of vAuto on Making Online Auctions Work

Dale Pol­lak, founder of vAu­to, offers deal­ers a “pro­vi­sion­ing” strat­e­gy for their used vehi­cle inven­to­ries:

Use simul­cast and proxy bids in tan­dem. Used vehi­cle man­agers have mul­ti­ple respon­si­bil­i­ties. They active­ly mon­i­tor the simul­cast auc­tions where they expect to find the great­est num­ber of vehi­cles they need, and use proxy bid­dings to ensure they’re still in the game when they’re called away from their desk.

Mind your “proxy bid dis­count­ing.” Today’s tech­nol­o­gy and tools can elim­i­nate any guess­work about the “what to pay?” leg of the pro­vi­sion­ing strat­e­gy and give deal­ers con­fi­dence in max­i­mum bid amounts to off­set the ten­den­cy toward dis­count­ing proxy bids.

Pick your spots to pay up. There are times when going beyond a tar­get acqui­si­tion price by $100 to $300 makes sense to meet broad­er inven­to­ry needs and goals. This is a ratio­nal deci­sion and one that deal­ers should account for as they set their simul­cast and proxy bid­ding strate­gies and tar­gets.

“Go where they ain’t.” A South Car­oli­na deal­ers says, “If I need a Nis­san, I’m going to look at non-Nis­san lanes to see if I can catch a Chevy deal­er who’s try­ing to get rid of one.”

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