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Fleet stock remarketing company claims 'industry first' with online bidding portal

Online auction company G3 Remarketing, which disposes vehicles direct from fleet companies, finance houses and leasing companies, is introducing a new online bidding portal in April.

Bidders will now have the ability to communicate directly with the auctioneer, who will be conducting the sale, while viewing a portfolio of the high quality, accurate images.

The auctions will run in concurrent lots, with each vehicle being offered online for around 30-40 seconds. A live auctioneer will convey all incoming and proxy bids online, replicating the environment of a physical auction hall.

Matt Dale, founder and director of G3 Remarketing, said: “Historically the bidding process took the form of a timed sale which included ‘bid extension’ to prevent last minute gazumping.  The revised platform will reduce the sale duration, allowing users the opportunity to spend a few minutes securing the required stock, rather than a few hours.

“Bidders will have the ability to ask the auctioneer specific questions about the lot both before and during the auction to assist them in formulating a complete picture of the quality and condition of the vehicle in question. Bidder-specific notes can also be added to each lot prior to sale, allowing secure information to be displayed as vehicles come under the hammer.

"Our tools allow complete involvement during all live online auctions.  This is a ‘first’ for the industry and will set the benchmark for all future iterations.”

The bidding process will be transparent. All proxy bids (fixed maximum bids placed before the sale) will be clearly identifiable, and all bidding will commence at the starting price, irrespective of the maximum proxy bid that has been placed. The auctioneer will set bidding increments to reflect the activity on each individual lot.  However bidders still have the ability to select their own increments within specific criteria, as well as disable the audio stream if they desire.

The new bidding portal dispenses with the need of installing Java plug-ins. The site is configurable and will adapt on to any mobile device.  There is no need to download an app as the site is mobile-ready.

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Comments

  • Tony - 25/03/2013 14:41

    I'm not sure how this is an industry first nothing in this article indicates new or innovative. Haven't all the main auction firms offered this for years now?