Nearly 75% of the BMW vehicles offered during Manheim's first open digital block sale for BMW Financial were sold during the auction, according to Manheim.
Through a combination of onsite and digital bids, nearly 130 out of the 174 BMW vehicles were sold at the November auction. The vehicles for this sale were sourced from three Manheim locations in Riverside, San Francisco, and Nevada.
"Delivering new and innovative ways to offer quality pre-owned inventory to our dealers is top priority for us," said Patrick Clark, general manager of sales channel development for BMW Financial Services. "Dealers told us how much they enjoyed the flexible sale environment and wide selection of BMW vehicles."
The split in how many people attended the block sale in person versus bidding via Simulcast leaned heavily in favor of the online method, according to Manheim. Roughly a dozen dealers attended the sale in person, and about 129 clients participated using Simulcast.
During the sale, vehicles were not run down the lanes. Information such as condition reports, high-quality images, and vehicle grades were announced by a live auctioneer.
Simulcasts have provided efficiency and convenience to many of its clients. This year alone, Manheim expects roughly 215,000 of its vehicles to be sold outside of physical auction facilities, and through its digital and mobile platforms.