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Old 06-11-2013, 05:34 AM   #1
StevoVTX
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Default Manheim Online

Who has it, who uses it, and what are your thoughts with regard to online bidding?
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Old 06-11-2013, 06:47 PM   #2
Jeff Duvall
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My son buys 3 to 4 cars a each weak on Manheim, I prefer to be in lanes....hard to steal a car online

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Old 06-11-2013, 09:15 PM   #3
jbellx02
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I buy 95% of my used cars online. IMO it is easier to steal a car online than buying at a live auction. Live auctions, live buyers, easier to find flaws in the car, but not so easy to steal one. Online, no live buyers looking at the car, everyone dependent on auction reports, get lucky,every now and then may steal one.

Prefer live auctions, hands on, but in a small dealership, limited personel, easier to purchase online. May find some great buys at a live auction, but give up control of the dealership for the day.
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Old 06-12-2013, 02:03 AM   #4
Jeff Duvall
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Online no live buyers??????? You must be refering to OVE. I assume the question was in reference to Simulcast
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Old 06-13-2013, 05:44 PM   #5
XDCX
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I think the question of online vs in-lane is a great one.

I like to think of myself as a "technology guy" and I love using the Internet to transact business - I had an E-Trade account and was trading stocks on the Internet before E-Trade even had a webpage.

That said, when it comes to certain auto auctions I really wonder if being there in-person is better than trying to conduct the bidding on-line.

I watch a lot of IAAI auctions which are simulcast with live bidding and online bidding. For most auctions the sales volume seems to be pretty evenly split between online and in-lane.

I've noticed two situations which have caught my attention. First, it appears the in-lane bidders have an advantage when it comes to negotiating a lower reserve if the vehicle fails to reach reserve - this appears to be based on the relationship the auctioneer has with his major buyers. It's also subjective on my part, but I sense that some of the in-lane buyers enjoy a "quicker hammer" than the online bidders do - also based on relationships.

The second situation that's caught my attention is it appears the online bidders occasionally get "run-up" against ghost bidders. I've noticed several occasions where the auctioneer will start a vehicle based on a bid he's received from an in-lane bidder and then he works to advance the bid. If the bidding doesn't advance the initial bid is dropped and the vehicle starts at a lower price point. I think it's hard for the online bidder to know if he's really competing against a real floor bid or a ghost.
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Old 06-14-2013, 11:17 AM   #6
chryslersrt8
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Ghost bidding, sadly, goes on both live and online. Just like when a friend of seller runs the bid up for his friend. The auctioneer/auction should know who does this and should take appropriate action. Not all do.

I prefer online for factory closed type auctions but prefer live for general used car auctions.
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Old 06-14-2013, 04:15 PM   #7
XDCX
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Quote:
Originally Posted by chryslersrt8 View Post
Ghost bidding, sadly, goes on both live and online.
I agree that ghost bidding can happen at both live auctions and online auctions, I just think it's easier to spot when you're at a live sale.

At the risk of sounding paranoid, I could see myself attending a live sale with my Nexus 7 tablet monitoring the online auction just to make sure I wasn't getting ghosted with online bids.

Quote:
Originally Posted by chryslersrt8 View Post
I prefer online for factory closed type auctions but prefer live for general used car auctions.
I agree 100%.

I think the closed auctions operate at a higher level and there are fewer games that are being played. I also think the quality of the vehicles is higher so there's less risk of buying a bad car.
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