Manheim refers to the process of realising the value of its customers’ assets as “remarketing”. The company provides its customers with multiple channels to market – including auctions – and a whole suite of logistics services to facilitate the sales process in a quick, convenient and cost-effective manner, with the aim of the remarketing process is to deliver maximum value (i.e. return) for sellers.
Auctions are an important sales channel, however, and include:
• BidNow, an online time-based auction where vehicles can be listed before moving to auction.
• BuyNow, an online listing where buyers can make an immediate purchase, 24 hours a day, seven days a week.
• Simulcast. All auctions are simulcast on the Internet, allowing buyers to participate in each auction from home or office.
Manheim’s remarketing services are tailored to the exact needs of each customer and specifically designed to maximise resale values in the shortest possible time once a vehicle has been moved off-fleet.
Services include:
• Logistics management.
• Vehicle inspections.
• Vehicle rectification.
• Transport solutions.
• Vehicle storage.
• Grooming.
Manheim offers an open and transparent process, and with regular weekly auctions, and the online sales channels, has a large database of buyers.
Manheim is part of the world’s largest vehicle remarketing group, enabling the New Zealand operation to tap into industry best practice and global expertise.
Fees are based on a percentage of the vehicle’s value, and can handle both large and small volumes of stock throughout the country (and overseas).
Before sending vehicles to auction, Manheim says fleet managers need to consider the current market demand for the asset. Obviously if the vehicle is desirable or in short supply the expected value will be strong; alternatively if there is a glut in the market of a particular model it might pay to wait before sending it to auction.
Additionally, careful attention needs to be given to the age of a vehicle, its condition and the mileage as all these factors affect the expected value of an asset. Choosing the right time to remarket a vehicle becomes a balance of managing your fleet, in line with your own business objectives ,and moving vehicles off-fleet at the time where its value can be maximised.
Disposal strategies should be considered when as part of the decision-making process when purchasing new cars, checking resale value currently in the market place, and gathering data rather than relying on gut feel.
Manheim says it specialises in providing this data and advice.
