ATLANTA - Manheim unveiled Simulcast Everywhere on Feb. 4, a digital auction platform that brings the auction to the car, anywhere in the world, with live auctioneer-led sales. The new Simulcast product - launched during the National Automobile Dealers Association (NADA) convention in Las Vegas - makes buying and selling significantly easier for customers. It is a first for both Manheim and the vehicle remarketing industry.
Unlike any product on the market, Simulcast Everywhere features competitive bidding within an OVE.com-style environment, bringing the in-lane excitement of sale day to the online experience. With Simulcast Everywhere, the auction, vehicles and buyers all can be located anywhere.
"The idea for Simulcast Everywhere really came from listening to our customers and learning what kinds of digital tools would make it easier for them to buy and sell cars," said Joe George, group vice president of Manheim Digital. "Building upon those insights, we developed Simulcast Everywhere. This past fall we piloted the product in closed sales with Nissan, Infiniti and Asbury, which gave us the opportunity to get great customer feedback and refine Simulcast Everywhere before rolling out this game-changing offering."
Simulcast Everywhere works like this: A still picture of the vehicle is displayed with a live audio stream of the auctioneer calling each vehicle. A vehicle bid log constantly keeps sale activity up-to-date. In addition, general vehicle details, quick access to condition reports and the full run list of vehicles are available onscreen at a glance.
The unprecedented auction platform delivers distinct advantages to buyers and sellers. Buyers gain access to a larger pool of inventory in a familiar, fully transparent marketplace where they can see everyone who is participating in the sale. This level of transparency gives customers a high level of confidence during Simulcast Everywhere events. Also, vehicles come with condition reports so buyers have all of the information they need to make informed purchasing decisions.
Simulcast Everywhere's competitive bidding environment enables sellers to find the best market price for their vehicles, in real-time price discovery. The digital auction platform also exposes sellers' inventory to a wider buyer marketplace, including vehicles not on Manheim's property, saving sellers transportation fees associated with bringing vehicles to the auction.
Simulcast Everywhere is a natural extension of the Simulcast product suite launched in Manheim's lanes during 2002. "We are proud to celebrate our 10th anniversary of employing a platform that changed the way people buy and sell cars in the remarketing wholesale industry," said George. "With the launch of Simulcast Everywhere, Manheim continues its commitment to innovate products that help customers do business with us anytime, anywhere and in any way they like."
For more information about Simulcast Everywhere and to watch a video of the product in action, click here.