Car auctions should provide dealerships an efficient and productive way to buy a car at a wholesale price. For dealers, it’s important you go into the transaction feeling confident, relaxed and safe. ACV Auctions wants to provide that experience for you and Joe Neiman, the company’s Founder, tells CBT Automotive Network just how they achieve that.
Neiman started as an independent dealer within the industry and he credits that experience for his unique viewpoint of the industry and especially auctions. Because he has experienced the dealer’s side of buying cars and saw how difficult it could be to buy from an auction. Many understand the pain points and stress levels that come from the hassle of liquidating these cars or even waiting to see if your gamble on a car purchase pays off.
Neiman saw the opportunity to leverage technology and provide immediate liquidity to these wholesale cars. ACV launches and sells cars every day through 20-minute actions, averaging 5 thousand cars a month over the two years they have been in business.
If you’re wondering if your dealership is having issues buying and selling cars at auction Joe you along with everyone else is. “unfortunately part of the auction world is deception and confusion” Neiman says, “ACV is really taking a stand against that”.
The company’s business model is Trust and Transparency. They seek to build that trust with buyers to avoid them operating from a position of fear and instead of giving them the knowledge to fully engage and buy the car for the right amount of money.
Every month the team at ACV collects over 50 million data points, averaging around 6,000 data points per car. This is important as the industry has shifted and now depends heavily on technology. With pulling this information they are also able to know everything about the inventory which helps them provide that excellent transparency they strive for.
