Every auction is an event…a huge part of successful results is the order that the vehicles run in. Three or four overpriced vehicles will absolutely stall any momentum, just like too many re-runs from previous weeks….bidders can get frustrated and annoyed at vehicles not selling. It takes time to build up the energy in the lanes to provide a robust marketplace. There are different ways auctions dictate where/when a unit runs. It isn’t an exact science…but so important for both the buyers and the sellers.
First come/ First serve – easy, simple way for auctions to operate, can result in a run of units not selling. I’ve tried this method but sales % dropped noticeably & it was abandoned.
Data Driven – there are auctions that use a formula based on previous sell rates of the consignor. Lets the data do the talking.
Physical Positioning – Space constraints at some auctions force them to park the units strategically on the lot. Our first auction location had this situation – only 2 acres to park 200+ units & be able to move them around. Run #’s were dictated more by the auctions needs than the marketplace.
Pick & Choose –A dedicated person, (Steve, Head auctioneer/owner in our case), assigns #’s as the units are consigned. Positioning them to provide them the best chance of selling. It is the most labour intensive way to set up, but the extra thought put into it yields results in the lanes. Example: 3 models of the same year are to be run – he’ll put the most desired one first, it reaches its value and isn’t passed over like the other would be if they were put ahead of it.
Hoping all your units are “knee deep in rubber” – Cheers, Sean Liptay