SmartAuction released a new set of electronic tools that it says can help dealers bolster their online remarketing efforts.

Through its proprietary analytics, Dealer eVantage provides buyers and sellers with personalized alerts that can give them some guidance before they conduct vehicle transactions on SmartAuction.

“We believe SmartAuction may be the only online wholesale auction platform offering the personalized information Dealer eVantage provides,” said Mark Newman, SmartAuction managing director.

“Dealer eVantage provides both our buying and selling dealers valuable information which can immediately improve their remarketing operations,” he added.

Here’s how the alerts are designed to work.

With regards to buyers, every morning they are sent an e-mail that notifies them of new vehicles posted to the site. It also suggests what is best-suited for each dealer based on the respective store’s inventory requirement and profile, giving them a personalized run list of new vehicles on the site.

Officials said a special algorithm is used in compiling the alerts. It considers things like bidding and purchasing histories as well as retail and wholesale market demographics.

Meanwhile, sellers receive an alert that shows how likely it is for a specific vehicle to get more than one bid. It does this by contrasting the seller’s initial price to SmartAuction’s proprietary pricing model, which considers over 500,000 wholesale transactions a year.

It gathers this transactional data from physical auctions, online auctions and up-to-date market value data from third parties.

“Dealer eVantage allows us to leverage the benefits of an online auction to provide tailored, and current information on both vehicle offerings and vehicle pricing to our dealers,” Newman noted.

“We are gaining momentum in the dealer to dealer trade and we believe these tools will help dealers buy and sell more effectively on SmartAuction,” he added. “Going forward we plan to enhance and expand the Dealer eVantage tool kit to continue to address dealer remarketing needs.”