In the three months since the product launch, EDGE Simulcast has been installed at 20 auction facilities.
EDGE Simulcast allows auctions to promote their sales online, explains Scott Heydon, COO for Auction Edge, noting that the platform enables fast-paced bidding across all auction lanes simultaneously while providing immediate access to vehicle information, condition reports and photos. Similarly, sellers are able to access and view all necessary information to make quick, informed decisions while representing vehicles. Both the bidder and seller applications are user-friendly and run reliably on industry standard Web browsers.
One of the key advantages of EDGE Simulcast, over other remote bidding systems, is its Single-Clerk feature which minimizes duplication, resulting in improved accuracy and labor costs, according to the company. Clerks navigate through vehicles as they cross the auction block, and then display relevant information clearly for the auctioneer, all on a single interface.
“Remote bidding technology allows a dealer to stay in the dealership and still acquire quality used vehicles, providing our customers another tool in a very competitive market environment,” said Dan Kennedy, manager of General Motors Remarketing, an early proponent of simulcast technology that was used in conjunction with General Motors Factory Sponsored auction sales as early as 1999. “As a seller, we have become very dependent on this type of technology to ensure General Motors dealers from all over the country have easy access to the entire portfolio of vehicles being offered at auction sales.”
EDGE Simulcast uses the Online Ringman simulcasting platform, which was developed by Xcira Corporation and is the original simulcasting technology used by commercial auto auctions in the United States. Today, this technology also provides simulcasting for not only vehicles at wholesale auctions, but also heavy equipment, salvage vehicles, and even collector artwork and estates.
Lynn Weaver, partner and GM of Harrisburg Auto Auction said, “I thought we had been doing a pretty good job with the previous simulcast technology, but was quite surprised to find how the new EDGE Simulcast made an immediate impact on the efficiency of running the auction lane. We have also received great feedback from dealers around country with the ease of navigating the new EDGE Simulcast windows as well as the increased amount information they can now access on each vehicle. Dealers can literally participate in eight lanes simultaneously, a feature not found in other technologies. EDGE Simulcast has been a huge step forward for us as we really didn’t expect it to have such a positive impact so quickly."