Manheim Auctions Experiments With New Wholesale Format
Manheim Auctions hosted cinema-style sales at its Atlanta Auto Auction on April 17 and its South Seattle Auto Auction on June 6.
Manheim’s first Cinema Sale was held for Honda dealers at the Atlanta Auto Auction. More than 60 dealers attended and purchased 166 units, or 93 percent of the total vehicles offered for sale.
Cinema-style auctions, a widely used format in Japan, allow dealers to view still images, condition reports and other vital information on each vehicle projected on large video screens as dealers sit comfortably in a theatre-type atmosphere. In its two recent sales, Manheim used traditional auctioneers and ringmen to solicit and collect bids.
The South Seattle Auto Auction Cinema Sale, during which 89 percent of the cars offered were sold, drew 38 BMW dealers to the lanes.
Both Cinema Sales were also conducted online via Manheim’s rapidly growing Simulcast tool, which allows dealers to remotely bid on and buy vehicles in real time. During the Cinema Sales, participating online bidders viewed the same still image and information for each vehicle that was shown to dealers in the lanes. Eight Honda cars were purchased using Simulcast during the Atlanta Cinema Sale and eight dealers participated remotely in the South Seattle Auto Auction Cinema Sale.