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Auto Auction Services Corp. announced a proposal late last week for its online Multi-Listing Platform that it believes will help tackle a “major business issue” for consignors and auctions: the need for an online tool that allows for simultaneous listings on multiple online auctions.

“Since our founding in 1997, we’ve been dedicated to helping the remarketing industry succeed through the application of new technologies and focused on delivering results that improve business practices for the benefit of all,” said Mike Broe, chief executive officer of AASC.

“Our Multi-Listing Platform will offer the advantages of consolidating data for better information sharing, simplifying the listing and search processes for greater efficiency, and reaching the broadest market available to maximize resale prices.”

The company’s proposal, he noted, would utilize hub technology in creating a single, common interface.

Such an interface would allow for simultaneous, cross-listing of vehicles on multiple online platforms to facilitate sales activity.The central portal would connect all the participating online platforms, which could send and receive digital photos, inspection reports, floor prices and other pieces of information.

The Multi-Listing Platform would also include real-time live bidding.

 “This allows for the instantaneous exchange of data as it is happening, so bidding received on one platform is communicated as it comes in to the hub, which immediately transmits that information to update all the other platforms where that vehicle is listed,” Broe said.

AASC itself already features a few of these types of software tools, including AutoIMS.com.

“We bring advanced technology to the remarketing process, letting systems do what they do best — freeing people to focus on higher value business activities,” Broe said. “Online vehicle portfolio management and sales are here and many in the industry feel it’s time to move forward to the next level. We recognize this is where remarketing is headed and, based on the underlying trust we’ve built throughout the industry, we’re prepared to lead it into the future.”

In fact, AASC pointed out that this was a hot topic at the 2013 International Automotive Remarketers Alliance Spring Roundtable and the 2013 Conference of Automotive Remarketing.

The IARA Standards Committee actually put out a white paper on online multi-selling platforms earlier this year, emphasizing the need for development and adoption of industry standards for this type of tool.

“NAAA has an ongoing initiative to standardize our industry, which includes creating uniform Electronic Condition Reports, a universal Arbitration Policy and a National Certification program,” said Frank Hackett, chief executive officer of the National Auto Auction Association.

“So working together to set general principles and practices for online multi-selling platforms would just be one more way to ensure trust, enhance service and enrich customer satisfaction.”

Hackett also voiced NAAA’s support of united industry efforts to build a multiple online sales platform. He also encouraged AASC to meet the challenge with its Multi-Listing Platform.

“We see this technology as evolutionary — not revolutionary — and it represents progress that will be of great benefit to everyone.”

 

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