ServNet Auctions Provide Analytics through AuctionPipeline  

As auctions and remarketers seek improved methods for tracking sales performance and forecasting marketing trends, ServNet president Keith Lelux reports that ServNet is providing analysis for national accounts, utilizing the data contributed by its member auctions to AuctionPipeline. 

"Analytics and statistical analysis have become an increasingly important factor in today's comprehensive remarketing programs," said Lelux. "We are pleased to report that with all the ServNet Auctions contributing data to a single technology platform (Auction Pipeline) ServNet is able to provide national accounts with comprehensive analytical reporting." 

Lelux notes that in recent months, ServNet has worked with both CitiFinancial Auto and Wachovia Financial Services to produce custom reports that assisted the remarketers in determining regional sales patterns and comparative data analysis. ServNet teamed with CitiFinancial Auto to prepare an Arbitrage report that tracked comparative sales results around the country. CitiFinancial shared its sold vehicle history for a number of vehicles with AuctionPipeline, which then matched those vehicles to subsequent sales at ServNet Auctions. Working with Wachovia, ServNet produced a Peer Group Analysis, measuring the account's performance relative to other companies in its market segment throughout the country. 

"With ServNet's expanding geographic footprint and the full participation of our member auctions, we're able to provide our customers with market data for all regions, coast to coast," explained John Brasher, president of Brasher's West Coast Auto Auctions and a member of the team that originally developed AuctionPipeline. 

"The value for our auctions is being able to demonstrate to the consignor that net proceeds from the sale of the vehicle at their auction exceeds the net proceeds at the originating auction," said Brasher. "The value for our national accounts lies in their being able to determine the best opportunities for remarketing their vehicles." 

Brasher indicated that all ServNet auctions contribute data to AuctionPipeline, whether or not they participate on the AuctionPipeline web interface. 

Moving forward, ServNet continues to work with AuctionPipeline to enhance its reporting capabilities, allowing remarketers to gauge performance strength at ServNet's 21 locations across the country. Soon to be available is a report that will freeze vehicle values daily, archiving them for later use. This data will allow consignors to compare a vehicle's original sale price against book value, and then to compare that data against subsequent sale and book value at a ServNet auction.

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