BCA is today (12 June 2012) launching Appraise, Value & Sell, a unique online service developed specifically for UK retail dealers by British Car Auctions.
The new service is a first for the remarketing industry and comprises three modular components that provide a range of benefits for used car sellers. Appraise, Value & Sell generate consistent and objective appraisals, accurate real time valuations using the UK’s largest used vehicle databank and a seamlessly linked remarketing process.
Dealers can use just one, two or all three functions and as a web based tool the product can be used by any computer with an internet connection – from tablet to desktop. BCA Appraise, Value & Sell was launched to selected franchised dealers late last year and is now available from BCA nationwide.
The innovative ‘Appraise’ function enables dealers to accurately and consistently record a vehicle’s condition and automatically generates a condition grade. The process presents a body-specific Kipper View diagram with selectable damage and severity options and image upload facilities. This ensures the correct identification of vehicles, helps to reduce the potential of lost sales due to poor appraisals and professionalises the appraisal approach with customers.
The appraisal is immediately visible online within the dealer or group (without the sales person leaving the customer if using tablet PC’s), making available all the relevant information to accurately value the vehicle. These details can be directly passed to a retail or trade sales route without any re-keying of data, reducing administration and time to sale.
The ‘Value’ function uses BCA’s 600,000 annual auction results combined with over two million additional data points to derive a trade value – which is adjusted daily using a sophisticated logarithmic program developed in conjunction with Deltapoint, the UK’s leading automotive intelligence provider.
The service is currently tested to 99% accuracy in the field and BCA believes it is the most accurate, live valuation tool in the marketplace. A value is automatically produced as part of the ‘Appraise’ function, but dealers can bypass this and generate a value using an assumed average (BCA Grade 3) condition. All vehicles stored on the system can automatically be re-valued at the touch of a button, giving dealers real time information on the value of their retail stock.
With the ‘Sell’ function, dealers can automatically send vehicle details including appraisal report and images to BCA for remarketing. The dealer can choose to place the vehicle in one of BCA’s regular online-only sales which include Bid Now, Buy Now and e-Auction, as well as entry into a physical auction. Automatic transfer of vehicle data to BCA saves dealer administration time by removing the need for vehicle entry forms.
The dealer can even retain the vehicle on the forecourt by consigning it to an ‘offsite’ sale at BCA. BCA will remarket the vehicle online while the dealer retains the vehicle for possible retail, avoiding unnecessary logistics costs and improving the time to sale.
BCA’s Commercial Director D’Vidis Jacobs commented “Appraise, Value & Sell has been developed exclusively for retail dealers by BCA. It has been tested with some of the UK’s biggest and best known motor retail groups and the reaction has been universally positive.”
“Dealers tell us that it helps them achieve a more efficient used car operation, by removing administration and providing a consistent process for appraisal and valuation on any number of vehicles. Incoming part-exchange vehicles can be processed fluidly, and allocated to retail or trade as appropriate. The system can integrate with dealers’ existing processes, is auditable, transparent and doesn’t rely on subjectivity at any stage. There are added efficiencies where a vehicle is entering the remarketing chain because all the administration has been done and a simple click consigns it for sale at BCA.”
Jacobs concluded “BCA has listened to its customers and is focussing on delivering Best Practice solutions that meet their needs, whether a buyer or seller.”