Challenging the status quo when it comes to where you sell your vehicles

I recently completed the sale of a vehicle through a channel I had not had success with in a while. A sale that brought $4500 more than the best local offer and $6500 more than the lowest. I used to sell my own personal vehicles through eBay Motors quite a bit several years ago, but then other avenues became a better option. I still recommend it for certain vehicles though. The marketplace is always changing, but sometimes it doesn’t hurt to try what worked in the past or cross list on multiple channels for the most exposure. I always liked eBay’s feedback system that has been around since they started 30 years ago and it does provide comfort to remote buyers when dealing with you. I have always worked hard to make sure buyers feel comfortable with what they are buying and was happy the buyer of this last vehicle felt the same (see photo).

These same principles for selling “retail” vehicles applies to wholesale remarketing strategies also. I am somewhat surprised how many remarketers are still using the same old channels and auctions they have always used and how many have become somewhat resistant to testing new avenues. I know it was easy the last few years to get comfortable selling in the same old, as the market was so strong that realistically you may have been able to sell cars in a cul-de-sac and dealers would find their way there to fight over what you had. Ok, maybe not that easy, but close at one point. J

Things are changing though and it’s probably a good time to revisit where and how you sell your vehicles. I used to take pride that when we had third parties review our remarketing performance that they always remarked on how many channels we utilized to sell vehicles. It wasn’t about the pure number of channels though, but rather making sure we were putting vehicles in the right channel for what they were and cross listing them where appropriate. And updating those algorithms on a regular basis is the key. One of the things I miss most about managing a large vehicle portfolio is dialing in the strategy and maximizing channel optimization, but I am glad I get to help others in the meantime with their own vehicles.

Have a great rest of your week and remember to push yourself to challenge the status quo! #treatassetslikeyourown #remarketing #statusquohastogo #testnewchannels #autofinance