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Online remarketing auctions restart and may become the default

Date: 12 May 2020   |   Author: Illya Verpraet

Vehicle remarketer Manheim announced is restarting auctions from today in an online format, while Adesa reckons online remarketing will be essential while social restrictions remain in place.

Manheim's remarketing programme will have both 'buy now' events and online auctions via Simulcast, waiving the usual fee that buyers are normally charged for online auctions.

Thanks to the recently relaxed lockdown measures, purchased vehicles can be collected again, with strict handover processes in place.

Adesa, which specialises in online vehicle remarketing, says it is receiving high levels of enquiries from finance and leasing vendors and fleets who have been sitting on defleeted stock since the lockdown began.

Its managing director, Jonathan Holland, said: "With social distancing restrictions expected to remain in place for the rest of the year, online remarketing is becoming an attractive option for trade buyers wary of visiting auction halls.

"As an industry we are seeing pent-up supply and demand with vendors and buyers using the lockdown as an opportunity to re-evaluate the way they dispose and acquire assets with online making more sense than ever before."