Manheim Specialty Auctions

Manheim is the world’s largest provider of wholesale auction services for vehicles. In 2011, it handled nearly eight million used vehicles and facilitated transactions worth more than $50 billion in value. This 65-year-old company built its substantial global reputation in the automobile industry, but in recent years, its made big strides in the marine marketplace, too.

“We understand that marine dealers have different needs than car dealers, so we established a dedicated division for them,” said Karen Braddy, general manager at Manheim. “Manheim Specialty offers marine dealers the opportunity to buy pre-owned inventory in-lane at auction sites around the country or online through our user-friendly website. Our services enable dealers to source a specific boat, to stock up for the selling season, or to liquidate aged inventory.”

Numbers prove that marine dealers reap big benefits from the services provided by Manheim. Its Specialty division has grown every year since its inception in 2004 and has more than doubled the boat units sold since 2006. That success is based on a number of key programs provided by the Atlanta-based company. Among them are credible pricing based on supply and demand, affordable participation fees, and guaranteed payment for sellers along with guaranteed titles for buyers.

Marine dealers who make use of Manheim auctions are also guaranteed access to a critical mass of buyers and sellers. For in-lane users, Manheim dedicates 20 of its 69 auction locations to its Specialty Division, and nine of those are heavily focused on marine, with a large quantity of high-quality pre-owned boats up to 40 feet for sale each month.

“More than ever, dealers perceive our auctions as profit centers,” said Braddy. “New products used to be king, but then boat manufacturers started reducing production volume at a time when dealers still needed boats to sell. As a result, some dealers have changed their business models to offer more pre-owned inventory. They discovered that Manheim offers them an efficient way to supplement their inventories.”

Dealers have also learned that Manheim makes the wholesale auction process straightforward. In fact, its services are designed to make it easy for newcomers to be comfortable with this type of business transaction from the get-go. For instance, the company’s Web site includes auction handbooks with video tutorials that walk dealers through the process step by step, and help to answer frequently asked questions. “We want to ease any anxiety a new participant may have, and to help him maximize his time at auction,” said Braddy. “This reference guide helps dealers find desired units, effectively buy and sell, and better utilize operation location services.”

Another popular on-line tool is the PowerSearch feature. With it, dealers can quickly locate the inventory they need, and then assess their values before bidding or buying online. “Our goal is to improve the dealer experience,” said Braddy. “The more dealers know the better off they’ll be. We always put the dealer first.”

While Manheim built its reputation with on-site auctions, today, online access represents significant growth for the company’s Specialty division. “Last year, over 40 percent of Manheim Specialty boat sales were to an online buyer, and the market indicates that online sales will only continue to grow,” said Braddy. Because more customers are researching and attending auctions over the Web, Manheim has strengthened its commitment to provide a diverse and forward-thinking set of online tools. Among them is Manheim Simulcast, which lets dealers who can’t make it to an auction location feel as if they’re in the lanes via real-time audio and video. Combined with Manheim Specialty’s transport options, it gives dealers access to inventory located from coast to coast.

The Online Vehicle Exchange (OVE.com) is another key service, particularly for those in the market for larger boats that are not typically available at physical sites because they’re difficult or expensive to transport. With OVE, buyers and sellers can conduct business 24/7. It gives sellers the opportunity to remarket units faster from their own location. In addition, it offers buyers the ability to see, compare and purchase units in a “buy now” environment. “It’s a very powerful tool because we market to every dealer in the universe and, just as critical, it’s always open,” said Braddy.

These are just a few of the competitive services available through Manheim, which is a subsidiary of Cox Enterprises, a leading communications, media and automotive services company. The company also offers full-service reconditioning, electronic condition reports, certification, inspections and financing. Its customer service support, both onsite and online, is also top-notch. “We know that’s important to dealers,” said Braddy, “as it will help them save time and keep their bottom line strong.”

For more information, as well as complete list of Manheim Specialty auction locations, go to www. manheimspecialtyauctions.com.