|
This week from the trading floor - May 21, 2011
by
Robert Hollenshead
May 23 2011 10:09AM
I'll give you a funny story from Friday. As you may or may not be aware, I take back cars from dealers who make a mistake when they buy - or find something they don’t like - on a very regular basis, 2 to 7 per week. I do this to maintain the dealers' trust with Manheim Auctions, and with me as part of the perceived value at Manheim PA. This is done in a general sense to promote the will to participate on simulcast, in my opinion the future of remarketing.
A dealer came up to me while I was in the middle of a rip roaring segment of my lane, and in broken Farsi / English says, “this car no good, you take back, the auction lady say you take back.” I stopped the sale and in front of about one hundred and fifty dealers I said absolutely I take it back, what’s wrong with it. He said “car is junk, no nice car, I bought it in Lane 19, auction said you take back.” Needless to say I sell in lane 22, not 19. The buyer brings me the slip from lane 19, not my car, and wants me to take back, a car sold by another dealer and was dead serious. Classic example of the trust dealers have in me. He was so upset, I told him I would take it back…and it was not my car. Dumb you say? I say no, build trust with our customers to not let fear stop them from coming to 17545 to do business. There is no one or no auction in the world that would have the will or the way to do this. At least twenty guys came up to me after the sale to make note of the action and to profess their love. It ain’t all about money for me. Now the market;
Lane 22 was a hot Friday, the fire alarm went off...twice...no BS. That's never happened before in the history of the auction business.
High price imports are still very sellable. Junk is over. As always the stellar units are getting retailed on the block.
The VHR report is frequently wrong and you can't get anything corrected, and buyers will not buy anything for $5,000 off the money with a touch on the report...regardless of what it is.
Simulcast is crucial as more dealers are using the internet to source inventory. Trust is our key to success. Dealers are finding out that we have the merchandise and we sell every unit. We convert on every opportunity and be sure that when a buyer is participating in our lanes, you will be a buyer, not a frustrated bidder.
If you were one of the 745 dealers logged in on simulcast I thank each one of you. I love simulcast, but I still would prefer to have you in the lane. I can't make you see the other cars that don't have CRs and therefore you can't bid on them. That is one of the reasons I developed Spotters. And it works, but you have to take the time to use it.
More and more first time buyers are able to understand that in my lanes they are able to buy with "no fear". They simply can't get hammered because we own our units and will stand up, not run and hide or "if and but", when there is an issue.
Spotters are a smash. Hundreds of dealers from around the world are using our product. Our simulcast results are the proof. Users are simply thrilled. We have real car guys answering the questions while standing next to the car, with a meter and a guarantee. I put my skin in the game and the call is recorded. There is no "I didn't say that" involved. When one of my people tell you something about a unit, take it to the bank, or I will buy it back. Anybody else ready to do that? When you find them, call me. This is not a practice game. I can't wait to see who it is.
Dealers, remember, when you buy a car from me or anybody in my family, and you find a reason you don't like it...give it back...that day. Forget arbitration, if you don't like it, you are not allowed to have it. In any of our lanes, at the world's largest auction, or in any of the forty two auctions that we are selling in around the country, you can buy any car from us with "NO FEAR". I am not here to hit and run. I am here to be your primary source of creamers...fresh cars you need and can't find 52 weeks a year.
Dealers, if you drive in from Kentucky, Kansas, Indiana, or North Carolina, you get the $200 appreciation discount on your third purchase. I want your butt LIVE in the lane, not on the internet. You bust your ass getting to Lancaster Pa. and I'm going to make it worth your trip. Simulcast is good, but I would rather have you in the lane.
My motto is "Trust before profit",
Robert Hollenshead
The "Maestro of Manheim".
Founder and President
BuyBook Technologies, Inc.
1373 Lancaster Rd
Manheim, PA 17545
bob@buybooktech.com
717.664.2700 Manheim office
610.960.6346 cell
888 233 0007 fax
Never sell a car before you get a purchase guarantee
Never trade a car before you get a trade-in guarantee
Never lend money without a current market value guaranteed appraisal
Never accept what your insurance company offers without checking the diminished value
|