Cox Automotive Canada and its Manheim Canada operations have partnered with XLane Holdings Inc. to make XLane’s InstantAuction product available nationwide.
Cox says using the InstantAuction app gives dealers “control of the entire remarketing process, deciding when and where to create a live auction, anytime, anywhere.”
Tave Della Porta, CEO and founder of XLane discusses what InstantAuction, the tool he created and brought to market, can do.
“InstantAuction is a platform that allows dealers to sell directly to other dealers.
InstantAuction allows dealers to quickly scan and decode a VIN, upload photos, add detailed vehicle information and launch their own auction listing within minutes.”
Della Porta goes on to say sellers can elect to run their auctions for one to 24 hours, including an optional “Buy Now” only listing.
Once the auction is launched, the system instantly notifies all potential buyers throughout the Manheim network.
In addition, sellers can easily monitor viewing and bidding activity.
All vehicles are listed with a CARPROOF VHR that buyers have access to.
Arbitration is also available.
Della Porta says the partnership means the platform will be available in the Edmonton and Vancouver markets early in 2016 and it could go global.
Buyers pay a transaction fee of $100. The app is available to sellers free as an introductory offer.
Manheim says dealer response has been positive. Dealers are impressed with the ease of uploading professional-grade photos to the system and with the transparency.
“Dealers like being able to see who has viewed and is bidding on their vehicles,” the auction company says.
Buyers and sellers are also able to take advantage of other products and services in the Manheim and Cox portfolio such as DealShield Purchase Protection and NextGear Floor Plan as a payment option.
As well, Manheim offers physical and digital auction channels, data analysis, financing, transportation and mobile products and solutions.
Maria Soklis, president of Cox Automotive Canada observes that dealers will be seeing more from the partnership.
“We are delighted to have partnered with XLane to introduce InstantAuction, one of several tools which we are in the process of launching together.”
The InstantAuction app is available for iOS on the App Store or customers can visit www.instantauction.ca and simply sign in using their Manheim Canada credentials.