Up next in our Q&A series from the Power 300 issue of Auto Remarketing, we turn to the auction world and connect with Geoff Parker, general manager of ADESA Cincinnati-Dayton.  

Auto Remarketing: What are some of the top challenges you’re seeing in the wholesale market this year, and how is your auction overcoming those hurdles?

Geoff Parker: One of the main challenges we have been addressing is the advantage shift from seller to buyer in the auction industry as a result of the increased volume of inventory. From the recession up through last year, inventory had been much tighter, which drove up the value of what was available at auction.

Now, however, with volume steadily increasing, values are coming down slightly, which has been an adjustment for our sellers. One way to help overcome this is with detailed, accurate condition reports online and representing the product as best as possible. This ensures that inventory continues to move quickly and well.

We believe that providing outstanding service each and every time is the best way to overcome any market challenge.

AR: We’re hearing a lot about the importance of condition reports. How does your auction emphasize to sellers the benefits of including these on the vehicles they sell?

GP: As part of our commitment to providing the best possible service to our customers, including our sellers, we make it a priority to highlight and explain the benefits of including an accurate and thorough condition report with each vehicle at every opportunity.

From gathering insight from our buyers, we know that dealers find important value in condition reports — they increase confidence, and they save time, because dealers know going into the auction the exact condition and details of the cars they want to purchase, making the in-lane or online decisions faster and easier.

In today’s mobile-driven world where buyers are scouring websites and apps prior to auction day to help guide their purchasing decisions, providing complete, accurate condition reports offers sellers a competitive edge.

AR: How is your auction adapting to an increasingly digital auction environment?

GP: We are adapting to the increasingly digital auction environment by investing in and implementing innovative technologies that makes the buying and selling process easier for our customers.

We understand that many dealers today are conducting business from both their laptops and smartphones, so ADESA and our parent company, KAR Auction Services, have made a strong commitment to continuously invest in technology that makes doing business any time, from anywhere, even easier.

For example, we offer apps like LiveBlock that allow dealers to catch all the action at our auction as it’s happening live, and the opportunity to bid alongside other dealers in real time.

The app lets users view vehicles before they hit the auction block, save vehicles to their Watch List, bid on vehicles in up to four lanes at once, and participate in more than 10 lanes.

This is particularly useful for dealers that need a specific car not in their region — say a dealer in San Francisco needs a car only found at ADESA Cincinnati/Dayton.

They can purchase it through the app, and even arrange transportation through CarsArrive, another KAR business unit that is North America’s leading provider of automated vehicle-shipping services.

We also offer a Marketplace mobile app that enables users to search for inventory across all ADESA sites, locate specific cars on the lot by using the GPS function and access vehicle information by scanning the VIN. These offerings are enormous time savers, making the research, buying and selling process more efficient, and allowing us to provide better service.

On the auction-specific level, we have piloted a new automated photo booth that takes detailed photos from our cars at every angle, and automatically uploads them into the vehicle’s condition report.

The photo booth is located at the end of the detail shop, when the car is as clean as possible. This technology makes the photo process more efficient, and it provides consistent, accurate photos for our buyers.

AR: Lastly, what do you enjoy the most about being in the remarketing industry?

GP: I love the auto remarketing industry for a lot of reasons, but there are two that stand out. The first is how many people you get to interact with each week. As a general manager, I get to work with 600 to 700 people each week on auction day.

Second, going hand-in-hand with this, is how much fun it is to interact with so many different people, and how it makes every day unique. The auction environment is always exciting. There is never a dull moment because it’s an ever-changing environment. I look forward to coming in to work each day, because I know it’s going to be fresh and fun.

Other features in this special section include:
4 questions with NextGear’s Brian Geitner
4 questions with NADA Used Car Guide's Larry Dixon
4 questions with Infiniti CPO manager Sam Liang
4 questions with Black Book’s Anil Goyal
4 questions with Autotrader president Jared Rowe