DETROIT – GM-Sponsored Auctions recently announced it is moving to an all-online bidding process with its auction partners at 39 of the GM Sponsored Auctions closed sale sites throughout the United States in the first quarter of this year (excludes Hawaii).
The move to remote online bidding at the GM closed auctions is designed to provide GM dealers with the convenience of bidding online without traveling to the physical auction site to participate in the GM closed sales. GM dealers will participate in the Internet sales via GM auction partners’ proprietary remote bidding technology, including ADESA LiveBlock, Manheim Simulcast and the independent auctions’ OnLine Ringman or Pipeline Simulcast.
Under the new process, GM dealers will continue to have the option of attending the GM closed sales at the physical auction location with the ability to inspect the closed sale vehicles first-hand prior to the sale. The GM closed sale auctions will continue to have an auctioneer on site at the physical auction during the sale, but the vehicles will be displayed online rather than running down the lanes. GM dealers will be provided a detailed report providing the vehicle’s photos, current condition information and option content.
“We’ve seen growing numbers of dealers adopting the remote online bidding process as they become more comfortable and confident in the process,” said Mark Mathews, director, GM Rental and Used Vehicle Activities. “We believe it offers a convenient and cost-effective means for dealers to acquire the quality used inventory they need, with the confidence that comes from a closed sale.”
“We have been running pilot programs with all-remote bidding at several locations over the last several months and plan to transition quickly to remote online bidding at all of our closed auction sales through the second quarter this year.”
For further information on online closed sale dates and times, dealers should contact their local GM-Sponsored Auctions website or log on to www.gmonlineauctions.com.