AUCTIONS

History

Auctions are one of the oldest forms of transacting commercial exchanges. They date back to the times of Babylon and ancient Greece where art, land, animals and crops were auctioned. In fact, the Roman Empire itself was auctioned.

There are many alternatives for remarketing cars, including using wholesalers, selling between dealers and selling direct to consumers. Each of these has a place in the remarketing system.

Often, the auction environment is ideal because it provides a dynamic trading floor where open, live competitive bidding is fast-paced and true market value is determined with each vehicle that comes to the auction block.

Benefits of Manheim Asia Pacific

  • Market Liquidity: Manheim Asia Pacific Auctions enable consignors to convert cars into cash quickly.
  • Pricing Separate to Volume: Manheim Asia Pacific can move large volumes of vehicles without depressing prices.
  • Critical Mass of Buyers and Sellers: As Manheim Asia Pacific becomes larger and more efficient, we will bring the increasing number of vehicles and buyers to achieve market values and ultimately establish a national used vehicle marketplace.
  • Credible Pricing: Manheim Asia Pacific gives the industry an objective view of what vehicles are worth in the marketplace.
  • Internet Applications: Manheim Asia Pacific has embraced Internet technologies to increase efficiency and offer additional services to both buyers and sellers.
  • Process Integrity: A well managed auction provides a transparent bidding process that satisfies the requirements of both sellers and buyers.
  • Reconditioning Value: Manheim Asia Pacific can provide full reconditioning services in order to enable sellers to maximize the total return on investment.
  • Affordable Participation: Auction fees, as a percentage of vehicles’ selling prices, are affordable and lower than the alternatives when all hidden costs of other processes are calculated.