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ATLANTA – Less than one year after OVE.com first began accepting independent auction partners, 45 independent auctions have joined the online wholesale marketplace and momentum is building each month, said Glenn O’Leary, OVE.com’s director of independent auction relations. |
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Backed by Manheim, OVE.com is the largest online wholesale vehicle marketplace where physical auctions play a pivotal role in the success of its business by acting as Facilitation Service Providers. As Facilitation Service Providers, independent auctions guarantee title, funds and arbitration (if needed) for OVE.com’s online wholesale vehicle transactions, and can also provide added services to dealers such as post-sale inspections, paintless dent repair and other reconditioning. |
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“Our independent auction partners have discovered that becoming an OVE.com Facilitation Service Provider gives them the best revenue opportunity available in the industry,” said O’Leary. “It also gives their national consignor and dealer sellers access to the largest buying base in the industry -- through the inclusion of OVE.com inventory in PowerSearch via Manheim.com. Plus, purchasing dealers have access 24/7 to the largest selection of wholesale vehicles available online. In today’s economy, these benefits give independent auctions a competitive edge, one that proves the significant role online channels play in today’s wholesale used car market.” |
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Thanks to continued national consignor and dealer seller support, rapid acceptance of OVE.com by independent auction partners, and the successful adoption of OVE.com at Manheim’s own operating locations, OVE.com has enjoyed tremendous growth in 2008; it is on track to achieve 100 percent year-over-year growth from 2007. Further, the site has increased its volume from 10,000 cars offered daily to more than 25,000 and now lists inventory from more than 55 national consignors (up from 35 just a year ago). |
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“Partnering with OVE.com as a Facilitation Service Provider has been of tremendous value to our auction for several reasons,” said Peter Saldamarco, |
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owner |
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of Central Auto Auction in Hamden, Conn. “The affiliation with trusted entities like OVE.com and Manheim really adds to the credibility of our operation, and the exposure it provides to new dealers not only around the country, but around the world, is invaluable. Since we added OVE.com a few months ago, we’ve already sold vehicles to dealers in countries like Russia, Lithuania, Saudi Arabia and Poland. But, the most important aspect for independent auctions is that if you want to do any kind of business |
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with commercial accounts, you have to have an Internet presence. Since it’s not realistic to spend millions of dollars to set something up on your own, partnering with OVE.com is an easy, cost-efficient way to capture the attention of those commercial customers.” |
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“Improved technology and the economic climate are two more factors influencing the steady rise in the number of independent auctions partnering with OVE.com,” said O’Leary. “Our new import tool interfaces with a partner’s auction management system to make it easier to import condition reports, images and inventory; it’s a great benefit for our partners. And, the challenging economic climate is driving many auctions to look for different ways to attract, solidify and expand dealer business while increasing overall profits – OVE.com helps them do all this,” he said. |
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Independent auctions seeking more information on becoming Facilitation Service Providers for OVE.com can visit the OVE.com booth at NAAA or contact O’Leary at (678) 645-2253 or glenn.oleary@ove.com. |
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About OVE.com |
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OVE.com is Manheim’s 24/7 online wholesale vehicle marketplace with the largest selection of inventory in the industry. OVE.com provides buyers and sellers with a secure environment in which to conduct business 24 hours a day, seven days a week. The site gives sellers the ability to remarket vehicles earlier in the remarketing cycle – and throughout the cycle – while buyers are able to see, compare and purchase vehicles without leaving their dealerships. Manheim is a wholly owned subsidiary of Atlanta-based Cox Enterprises and the world’s leading provider of automotive remarketing services. For more information, visit www.manheim.com. |