Vehicle remarketer Aston Barclay has launched its vendor calculator to provide dealer and fleet vendors with real-time market intelligence during live auctions.
It said that the calculator was part of its target to integrate its digital business and physical auctions to make the process of selling with Aston Barclay quicker and more efficient.
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Providing vendors with live performance management on each vehicle entered into an Aston Barclay auction, as well as their overall asset portfolio, the vendor calculator is intended to increase conversion rates, build buyer confidence and unlock increased profit through accurate data use.
Including comprehensive vehicle details and sale history, the vendor calculator provides users with up-to-date sale performance reporting and offers transparency on stock sales and current market buyer trends.
This allows vendors to assess their entire used vehicle portfolio during a sale which provides ‘at-a-glance’ profitability status and benchmarks against Cap hpi values.
The data helps support vendors in making the decision to accept provisional bids at their current face value with the platform providing expected total sale results for Cap, Conversion, SIV and Reserve based on current bid values.
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By GlobalDataStage two of the product will allow vendors to proactively request increased offers from buyers which they can respond to from their mobile phone.
Neil Hodson, chief executive officer of Aston Barclay, said: “The vendor calculator enables our customers to control and manage their auction performance, in real time, remotely from anywhere in the world.
The real-time market intelligence presented within the system gives vendors the ability to make decisions as sales are progressing with knowledge of where they are on conversion rates, asset profitability and performance against reserve values.
“We have tested this with a number of key vendors and so far, the response has been exceptional,” he added.
The vendor calculator is available to all Aston Barclay vendors, either remotely via iPad or onscreen at rostrums within its auction network.
Santander Consumer Finance (SCF) is launching a wholesale finance facility for selected dealers at vehicle auction and remarketing group Aston Barclay.
The wholesale finance proposition enables dealers to purchase stock at Aston Barclay’s six auction centres in person or online and then charge the cost to their wholesale facility with Santander.
