FRANKLIN, TN – A number of new auctions are contributing information to AuctionPipeline’s database, resulting in expanded inventory and enhanced reporting capabilities for auctions and remarketers who seek improved methods for tracking sales performance and forecasting marketing trends.
President Scott Finkle said that AuctionPipeline is providing analysis for a number of national consignors, utilizing the data contributed by the auctions participating on AuctionPipeline.
Those auctions include all the ServNet auctions in addition to several other independent auctions. Finkle noted that all ServNet auctions contribute data to AuctionPipeline, whether or not they participate on the AuctionPipeline Web interface. Currently, more than 20 auctions contribute data to AuctionPipeline.
AuctionPipeline has worked with both CitiFinancial Auto and Wachovia Financial Services to produce custom reports that assisted the remarketers in determining regional sales patterns and comparative data analysis. Utilizing data from ServNet auctions, Auction Pipeline worked with CitiFinancial Auto to prepare an Arbitrage report that tracked comparative sales results around the country. CitiFinancial shared its sold vehicle history for a number of vehicles with AuctionPipeline, which then matched those vehicles to subsequent sales at ServNet Auctions. Working with Wachovia, AuctionPipeline produced a Peer Group Analysis, measuring the account’s performance relative to other companies in its market segment throughout the country.
Moving forward, AuctionPipeline continues to enhance its reporting capabilities, allowing remarketers to gauge performance strength at independent auctions across the country.
Finkle indicated that a report will soon be available that will freeze vehicle values daily, archiving them for later use. This data will allow consignors to compare a vehicle’s original sale price against book value, and then to compare that data against subsequent sale and book value at auction.