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BCA LiveOnline for Internet bidders
Page 70
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British Car Auctions has launched an internet-based
auction service and plans to roll it out across the entire BCA network. Kevin Swallow reports.
British Car Auctions is introducing its LiveOnline auctions to its wider light CV market. Sales are being held fortnightly at Blackbushe before being rolled out to "other locations in the BCA network", a spokesman reports.
The first online sale at the start of October offered 400 vehicles, with 134 coming from BT Fleet. LeasePlan and the Peugeot Motor Company.
"A total of 73 dealers logged on for the sale from Cornwall to Inverness, with as many as 30 online at any one time.The online buyers bid on over 30% of the total entry and accounted for 13% of the units sold.
"This incremental buying power generated just under £5,000 of additional bidding value during the sale," he adds.
Duncan Ward, UK Business Development Manager — Commercial Vehicles, explains: "Our extensive customer research programme shows many buyers were sceptical about buying commercials online.
Generating confidence -Our aim is to generate buyer confidence by only offering light CVs from pedigree sources, professionally inspected and then accurately catalogued for interne bidders.Thanks go to BT Fleet, LeasePlan and Peugeot Commercial Vehicles for supporting this first sale in the new LCV LiveOnline programme."
LiveOnline pits pre-registered intemet bidders against buyers in the auction hallinitially, stock sold through the internet by BCA was low-mileage commercials direct from manufacturers. When BCA added older vehicles to the line-up it launched a grading system linked with end-of-lease inspections. Grading is based on the cost of restoring vehicles to end-of-lease standards; Grade 1 means no money had to be spent; Grade 6 means £1,000 or more was needed for the restoration.
Extra dimension LeasePlan's light CV remarketing manager Rob Mylchreest says LiveOnline has added another dimension to its commercial sales programme with BCA: "The grading system deals with any buyer concerns upfront and the extra buying power is lifting residuals. LiveOnline gives more opportunity to the regional LeasePlan buyers to buy our stock nationally."
Colin Moore from BT Fleet says:"BCA's technology is robust and transparent, both for online buyers and those in the auction hail. We have received positive feedback from the buyers who participated in this sale."
And Con McLaughlin, used vehicle remarketing manager of Peugeot Used Vehicles, concludes: "BCA's LiveOnline is a proven platform for selling our cars. BCA has applied this technology sensibly to the commercial vehicle market and maintained buyer confidence at the same time, which is crucial to the success of the programme." •