Independent auctions had double-digit growth in digital remarketing transactions compared to last year due in part to offerings from OVE Cox Automotive, such as two-way text notifications and live bid and offer reports, according to the company.
The company introduced OVE two-way text notifications earlier this year that enables buyers and sellers to accept, decline, or counter an offer in real-time by text message, in addition to replying via the OVE online platform.
Additionally, OVE instituted another tool to drive more transactions with the launch of Live Bid & Offer Report. The new report presents a live view of offers and bids by motivated buyers and sellers and displays bidding activity by location. The information allows auction users to facilitate deals between buyers and sellers who are close in price. Since its August introduction, this tool has driven a noticeable lift in digital transactions, according to the company.
The industry digital marketplace serves more than 150 independent auction locations, according to the company.
“The tangible items are not the most important part of these improvements, but rather the OVE team’s efforts to seek out and address our biggest needs,” said Brandon Bailey, director of online operations at Akron Auto Auctions. “The company took an active interest in independent auctions and let our voices be heard.”