Commercial vehicle remarketing organisation Manheim is claiming to have set a new benchmark in the LCV market, with the successful completion of its first open online van auction event last month.
Online auctions are part of Manheim's new online trade sales programme, which now includes a 'Bid & Buy Now' facility and features both 24/7 listings and specific timed events.
The open online trade auctions feature an auctioneer in camera shot taking bids in real-time from buyers using a live audio and visual feed.
All of Manheim's registered account holders are able to bid and buy commercial vehicles in this new sales channel and additionally benefit from a UK wide fixed transport rate for all purchases.
Manheim's first open online auction for CVs was hailed a great success, with more than 70 buyers logging on for the live event.
Strong CAP values were achieved across the board for the mix of leasing companies and manufacturers alike. The overall conversion rate for the auction was 60%.
Matthew Davock, head of LCV at Manheim Commercial Vehicles and the auctioneer on the day, said: "Manheim continues to bring a range of new sales channels to market, enhancing its approach by offering a blend of both online and physical auctions.
"This new online auction proposition uses our award-winning Simulcast technology and permits us to list vans with images and condition reports, irrespective of their location in the UK. Our latest figures highlight that, since the launch of the new version of Simulcast in February 2013, online bids have increased by 41%.
"In addition, 28% of vehicle purchases now take place online through Simulcast. Manheim Online is, therefore, the perfect sales channel for busy buyers, as it offers dealers the opportunity to access good quality vehicles, along with the Manheim trade team's expertise, from any location via desktop, tablet and mobile devices."