150 Independent Auction Partners Contribute to OVE.com Achieving Key Growth Milestone
ATLANTA – As independent auctions across the U.S. and Canada look for more ways to drive business results, they are increasingly turning to OVE.com – the industry’s leading 24/7 bid or buy now wholesale vehicle marketplace. These partners are expanding their business by taking advantage of the convenience and benefits of this digital solution, allowing OVE.com to achieve a recent growth milestone of 150 independent auction partners.
Both buyers and sellers have continued to embrace online channels to move pre-owned inventory. Independent auction partners have achieved almost 50 percent year-over-year growth in OVE.com dealer transactions through June 2012, while total OVE.com transactions for the same period have increased by approximately 25 percent.
“OVE.com has given us the opportunity to gain worldwide exposure, and as an independent auction, we try to take advantage of every opportunity that gives us positive recognition across the globe,” said Chad Bailey, owner and general manager of Akron Auto Auction. “Partnering with OVE.com has given us that chance.”
OVE.com is the online partner of choice for approximately 90 percent of the National Auto Auction Association’s (NAAA) member auctions, which means buyers can purchase with the confidence that every transaction facilitated on OVE.com adheres to the highest industry standards. OVE.com will have a booth at the upcoming NAAA convention where company representatives will be available to auction partners, media and members of the wholesale industry.
“Using OVE.com allows our independent auction partners the ability to gain access to inventory outside the auction gates, which they normally would not be able to touch,” said Jeff Roberts, sales support specialist for independent auctions. “The benefits of OVE.com transcend the online community, with some of our independent partners leveraging their online relationships to convert buyers and sellers to in-lane business. In addition, OVE.com enables independent auctions to meet the needs of their national client base.”
As partners on OVE.com, independent auctions:
- Control the entire transaction, from setting their own fees to arbitration
- Easily list inventory, images and condition reports, especially if using an automated solution
- Avoid listing or membership fees and never pay anything until they sell a vehicle
- Expand their reach nationally and internationally, because their inventory is exposed on Manheim.com’s PowerSearch
“Partners using OVE.com add another buying and selling avenue to their business portfolio, increasing sales and profits,” said Joe George, senior vice president of product development. “We would like to thank the independent auctions that have partnered with OVE.com, and we look forward to serving many more dealers through our online marketplace.”
To celebrate this important milestone, OVE.com is continuing its popular Strive 4 Five promotion. Applicable to dealer-to-dealer transactions, partners who sell units through OVE.com receive financial incentives that increase as the amount of inventory sold increases.
In addition to the benefits of an expanded marketplace, partners of OVE.com receive dedicated marketing and strategy support, and access to free instruction-led workshops on how to accelerate OVE.com sales.
OVE.com, Manheim’s 24/7 Bid or Buy Now wholesale vehicle marketplace where physical auctions play a central part in its success, is the only marketplace of its kind with a no-questions-asked buy-back guarantee (www.oveoffers.com). OVE.com connects buyers to the leading selection of inventory in the industry while offering them a virtual inventory of more than 25,000 vehicles to help them improve profitability anytime.