Selectbidder Signs First U.S. Auction Partner
MONCTON– Moncton-based automotive technology company Selectbidder is bringing their technology south of the border.
After launching its product in the United States last month, the company signed its first American auction partner, Space Coast Auto Auction.
Based in Melbourne, Florida, Space Coast Auto Auction will use Selectbidder’s platform to manage real-time bids between their dealers for auto trade-ins. They first discovered Selectbidder at the National Auto Association annual conference last month.
“Once we saw how Selectbidder puts our auction into the trade-in process, I knew we needed to start using it,” said Joe Pritchett, CEO and owner of Space Coast Auto Auction. “With Selectbidder our selling dealers are going to deal with us at the point of trade, allowing us to sell more cars straight from their lots. Our dealers and their customers are going to love how quickly and easily they get live offers on their trade-ins. For our dealer buyers, it’s going to allow them to tap into fresher vehicles earlier in the remarketing process.”
A selling dealer simply scans the Vehicle Identification Number (VIN) and takes photos of the vehicle they are considering as a trade-in. They post the pictures along with a quick condition report to the Selectbidder platform via the app or on the web. A notification is sent out to select dealers in the auto auction’s network. The dealers then make bids on the vehicle in real-time. This allows the dealer to know the true market value of the vehicle – no more guessing on the trade-in price. They can also show this to their customer during negotiations so the customer knows they are getting a fair deal.
“We are excited to work with Space Coast Auto Auction to make the trade-in process more efficient for their dealers,” said Selectbidder CEO Sean Liptay. “As we continue to roll out our technology in North America, we look forward to partnering with more American auto auctions in the future.”