Increasingly, the auto auctions are becoming a lucrative opportunity for both auto dealers and buyers. It’s a great way to sell the vehicles at competitive rates that are occupying the floor space, costing employee wages and holding the cash. On the other side, buyers can get them at less than the market price.
In the USA, the auto auctions are very common. They are conducted either offline at any place or online. The online auto bidding is gaining high popularity because it requires less investment and management as opposed to the offline auctions.
More and more auto dealers are gearing up towards online auto bidding to sell the inventory. For the car auction online, the auto dealers need to keep the business bank account, tax ID, business license, and automobile inventory ready.
Fair enough. Now, let’s face it! The time to start an auto bidding, but suddenly a question pops-up in the mind how the online auction can be set up and the dealership can clear out the inventory.
Here, a few steps are written that helps auto dealers, sail the auto bidding boat smoothly and generate sales of new or used vehicles:
- Make registration
To start with the auto auction, you need to register as a seller for the car auction on the websites. When you are filling the information don’t think just once while check the information twice to ensure that all the vehicle details provided are accurate and error-free.
A single mistake could turn away the customers to your competitors because millions of the sellers like you have registered and selling the cars. Don’t do the things haphazardly, review the car prices, forums, blogs, and customer preferences and then enter the vehicle’s detail.
- Decide how to sell
In the wholesale car auctions, the cars are listed and sold in different formats. Based on the platform you have selected, the selling format options you will get.
For instance: The vehicle listing as ‘Auctions’ means the buyers can bid on the vehicle and the higher priced bid will get the vehicle. In ‘Fixed price’, the vehicle’s price is already fixed and the buyers have to buy it without any bidding. In ‘Only offers’, the buyers are free to list any price of the vehicle at which they want to sell the vehicle and that’s negotiable.
- Grab buyer’s attention with eye-catchy headline
In the auction search, the buyers get to know about the vehicle you are auctioning through the information you have provided along with a catchy headline. When the headline contains the maximum keywords which buyers use to search the vehicle, the chances of your car get browsed and purchased increases. Make sure the headline is error-free, includes keywords and attractive enough.
Additionally, there are some auto dealers who hire the premium PPC services for keywords where even if one keyword is found in your headline, the mini-banner is displayed to the buyers.
- Complete information is a must
The buyers don’t like to see the fancy content, while they take an interest in the genuine description of the vehicle that contains all the information about the car. It must not be too long or too short. Keep it precise. Also, the description must be displayed in bright colors, large fonts and with optimum capitalization so that they are easy to read.
- Photos to keep
The description can be made appealing with lots of images of the car. Snap the car photos from the front side, back, or interior with a high quality camera and add them with description. It plays a crucial role in the car sale.
- Set starting bid prudently
In an auto auction, defining the starting bid is not as simple as it appears, while a lot of research needed. When you keep the low bid to allure more buyers, then the chances of getting a final bid of high price are less. When it’s made too high, the buyers won’t show any interest even in browsing the vehicle detail.
Keep a fine balance while defining the starting bid price because this decision would decide how many buyers you are able to attract and convert.
- Define up to when the auction remains
It’s essential to determine the time period up to which the auction will continue. When you set the auction time, try to end the auction during the weekend as this time you will find maximum buyers browsing the vehicle auctions.
Keep the time zone difference in mind, if you are targeting multiple nations. Also, you can identify the peak hours when the buyers’ activity is maximum so launching the auction at that time is more preferable.
All set for creating an online auction? If so, certainly the seven steps enable you to sell your inventory fast and aid you in generating the significant profits through efficient online auction.
Potenza Auto Dealer Solutions provide a range of auto dealer solutions to the car dealers to skyrocket the growth and raise a toast to success with increased traffic volume, conversion rate and sales. Consult the team, now!