The decision by Beadles Group, a franchised motor retailer with 11 centres across Kent and South East London, to use FullAuction, from Cooper Solutions, has significantly boosted its trade cars sales.
From a £50 category C insurance write-off Fiesta to a top of the range late Audi Q5, Beadles is harnessing the power of FullAuction to help trade more stock at better prices, achieving nearly £35,000 incremental profit within the first two months of use, averaging a per unit return of £550.
FullAuction is an alternative route to market for franchised dealer trade cars. Cooper Solutions said it minimises transaction costs, attracts hundreds of validated buyers and is quick and easy to list, sell and deliver. There are no fees for registered buyers, with only a small seller's fee applied when a vehicle sells.
Colin Birchall, Volkswagen brand manager at Beadles Maidstone, said: “Some of the cynics out there will say we were standing the car in too low, however, because we hadn’t changed our stand in policy the results speak for themselves. We achieved 103% of CAP Clean on average, despite a few dents and bumper scuffs or alloys that needed refurbing”.
“One of the biggest surprises is the diversity of buyers we attract with FullAuction. We had a Ford Mondeo bought by a site specialising in these cars, whereas in contrast cars that needed major repairs and painting were bought by retailers with their own bodyshops, who value these vehicles completely differently. These are the traders that are making the difference to us.”
FullAuction is a trade-only, online vehicle auction site with a nationwide marketplace, enhancing choice and competition for motor retailers. Auction pages include detailed appraisals, photographs, service history and other relevant descriptions. All auction pages dynamically update with a live, real-time eBay inspired countdown. Users also benefit from a full range of automated message notifications, keeping them up-to-date on auction activity, saving them time and hassle from manually checking the status of vehicles.
Colin recognises the value of FullAuction’s broad marketplace for his business. He said: “Now we can sell cars all over the country, meaning we reach markets we just couldn’t access when we were selling to local traders. We have strong relationships with our local traders and they still have access to all our stock, but now they have to buy competitively online. In addition, it’s fast and easy to put a car up on the system. We can get a car uploaded within twenty minutes, which I see as a good use of my team’s time, considering the return I get.
“Understandably, some dealers may be concerned about working with traders they don’t know. This has never been a concern for Beadles, as all the vehicles are described accurately – the good with the bad. FullAuction’s system is really successful in this respect. If you describe the cars correctly with pictures of the damage, in a consistent manner, traders soon get to trust you and pay more for your cars. This has made FullAuction a vital part of our business. We now put all of our part exchange vehicles up on FullAuction, as I’m guaranteed a better return than if I go back to trading or sending them to auction – it just makes great sense for us.”