Recognizing the changing landscape of the wholesale remarketing industry in its use of multiple online sales platforms for the resale of vehicles, the International Automotive Remarketers Alliance (IARA) has prepared a whitepaper outlining a set of standards designed to help level the playing field among consignors and remarketers.
Multiple online platform selling is the use of an electronic hub to expose a vehicle to the most buyers possible. While this form of sale has been popular in a variety of markets, including the real estate and travel industries, it is unchartered territory for wholesale remarketers and consignors. The IARA believes that, to be successful, the simultaneous listing of vehicles on multiple online sales platforms will require standardization of industry practices associated with the online selling of vehicles, specifically the standardization among auction start and end times.
The IARA whitepaper, “Multiple Online Platform Standards,” is available here.
For more information in the IARA, visit here.