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I am not a jealous kind of person...but - Sept 28, 2011
by
Robert Hollenshead
Sep 28 2011 4:17PM
I am not a jealous kind of person, but I am dead jealous of Car Max auctions. In particular Car Max of Laurel, MD.
I was coming home from D.C. on Monday morning and stopped at their sale in Laurel. What I witnessed should be used as the definition of an auction in the Webster dictionary. This two bay garage sells 800 units in three hours, no clean-up, no CR, no arb, no break lights cause the cars keep moving, world class auctioneers that can sell, no post-sale sale prevention and nothing but a pure auction. 100% sold for prices I can’t get cleaned up, de-dinged, bumpers painted, and waiting till Monday for the Post-sale department to prevent a sale on a 150,000 mile Expedition for a diff noise at 43 MPH… the same one it had when the unit was new. And they are selling to exactly the same people I sell to.
Car Max has dealers packed in asshole to belly button, crunched into an two bay aluminum shed, hands flying in the air for absolute trash. No lobby, just holes in the glass like a check cashing window to slide the buyer’s check through. I love this so bad it gives me the chills. This the essence of the beauty of what an auction was designed by God to be. They read his direction manual on how to do it and executed to a tee. I am so jealous I can’t sleep.
My hat is off to the Car Max management team. They are truly on top of their game. I don’t buy stock because I invest in myself, but I bought a pile of Car Max stock yesterday and I don’t even care if it goes down. They train their buyers as well as anyone in the business. They rotate them so crazy things that can happen in our business can’t happen to them (as it did in the past). They buy with discipline and no emotion, at least when they are in my lanes. They do their homework. They are polite and professional. I don’t know or care anything about their retail game, but I love their wholesale game.
On another note since I got that off my chest, just a quick reminder. I have 600 units at Manheim, PA over the next two days. I am in lane 11 Thursday with 260 units all on simulcast. On Friday I am in lane 22 with 350 units once again all on simulcast. Most will not have CRs because we move too fast for the auction to catch up. You are all welcome to use our Spotters who will go to any unit you want a better description of and the call is on a whose calling line that is recorded to ensure we have told you the truth.
When you break it all down, what we do in the wholesale world is all about trust. That’s’ why dealers buy from Car Max and it’s why my simulcast conversion is the highest of any dealer in the world…trust. You trust me, you can’t get hammered, I won’t let it happen . Regardless of what post-sale prevention has to say. Regardless of a CR that makes a creamer into junk and it brings $3,000 over average MMR. When you tune in to the Wall Street of wholesale, the 17545, channel 22 on Friday and channel 11 on Thursday, wear a helmet, because this ain’t softball. If you bid on anything of mine on simulcast and feel as though it was misrepresented in any way, call me and I will untwist your underwear. My name and my word on it.
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