Whether you’re working the auction block or trying to buy what’s on it, one thing is the same: time is money. The process, on average, lasts just 37 seconds. For dealers, the quality of every second spent on auction day generally makes the difference between a profit and a loss, taking advantage of a gainful opportunity or missing out.

Just like everything else automotive related, the right tool for the job saves a great deal of time and effort. That fact extends far beyond the technician’s side of the business. According to a recent Black Book survey of over 500 industry professionals, set to be released later this month, an overwhelming 94 percent of participants said that the use of a mobile application saved them time during the vehicle valuation process prior to bidding. More than half, 53 percent to be exact, said the apps they use save them 20 seconds or more per vehicle.

While a handful of seconds might not sound like much time to a layperson, an auction professional knows every little bit makes a world of difference. According to Mike Williams, Black Book’s vice president of direct sales and mobile solutions, the changes in mobile technology have been and continue to be one of the most impactful evolutions of the automotive industry, especially at the auction.

“Twenty seconds of time is a giant amount of time in an auction,” Williams said. “Average time on the block, from the time that auctioneer starts to the time they finish on a vehicle, is 37 seconds. So you’re selling $50,000 cars in 37 seconds a pop. Twenty seconds is an eternity.”

In this day and age, the aid of technology is almost a necessity. With the amount of additional value from the seemingly infinite array of options that can come with a vehicle, figuring out exactly what’s in the car and what it makes it worth, in a timely fashion, can be a logistical nightmare.

“Depending on the type of car, one slip up on a package means the difference between a loss and a profit,” Williams said. “Twenty seconds, while it doesn’t sound like much, is a major jump. That is one of the biggest changes in the last couple of years.”

With that in mind, it’s no surprise that, according to another handful of statistics from the Black Book survey, that 64 percent of professionals surveyed feel that using mobile apps makes them more profitable, and 97 percent say they use at least one smartphone while on the job. And it’s not just the big players getting in on the action.

“What we’re seeing with the mobile devices and some of this real-time evaluation and inventory management, this is all within the last two or three years,” Williams said. “It’s really changing the way dealers are doing business. More importantly, it’s not just the big auto groups, but it’s all the way down to the mom and pop stores now. When you realize you can get some of these things for $50 a month, that’s giant. That puts you on level with the CarMaxs and people like that. Technology is now affordable and really in the hands of everyone.”

As most are aware, the age of cheap and instant information is here, and it’s here to stay. The next step, according to Williams, is cultivating that knowledge and figuring out how it can be used.

“I think it’s a really great time,” Williams said. “We’re one of the biggest providers, and I believe that we’re just turning the corner on some of these things. I think next year, and in the next couple of months, some of the releases that we have, just for that communication flow between the people in the dealership, those are going to be big. I think right now we have that first step, which is the ‘wow’ factor of ‘OK, I have all of this at my disposal.’ I think the second step is people starting to absorb it and understand what they have and start to understand what they need and don’t have.

“I think we’re just getting into some of the best innovation," he concluded.