Customers Offer Praise for Programs Aimed to Boost Sales at Charleston Auto Auction

  As the challenges presented by current economic conditions continue to climb, Charleston Auto Auction has been working to develop programs and services to help boost customer sales, reports auction marketing manager Bill McCready. As the auction's monthly Absolute Sale gains popularity, auction buyers are also taking advantage of Charleston's 95% Buyback Program, which allows them to purchase with assurance and peace of mind. 

"We've noted quite an increase in activity in our Absolute Sale over the past year, and we're encouraging buyers and sellers to take advantage of all this lane has to offer," said McCready. "We run 60+ units in the sale on the 4th Friday of every month, and, true to its name, we sell every last one of them….with no 'if's', 'and's', or 'but's'!" 

McCready notes that, historically, the Absolute Sale was used almost exclusively by lease companies and banks; however, the auction has noted an upswing in dealer consignment in recent months. 

"With a flat $50 sale fee for all the units in the lane, and comparisons that show that the average selling price can increase by as much as 62%, our Absolute Sale is proving to be an effective selling tool for all our customers," said McCready. "This lane is crowded with buyers, and is packed with excitement as the units sell at twice the speed of any other lanes. When a buyer knows the vehicle is going to sell, they're willing to stay with the bidding until that gavel goes down." 

The Absolute Sale is also available to online bidders. 

95% Buyback Program Praised by Charleston Customers
       Buyers also have high praise for Charleston Auto Auction's 95% Buyback Program, which was put into place approximately a year ago as the economy started to slump. 

"With this 95 % Buyback Program, dealers receive assurance and peace of mind," explained McCready. "If you can't sell your vehicle after 60 days, return it to the auction between days 61 and 67 and receive 95% of what you bid on the unit." 

To qualify, the unit must sell for over $1,000 and less than $30,000, and actual mileage may not exceed 125,000. The unit cannot have frame damage, flood damage or salvage history, and cannot be a commercial vehicle. Units that are brought back must have accrued less than 750 miles from the point of purchase and must be in the same cosmetic and mechanical condition or better. 

At a cost of $75, Sellers can place the 95% Buyback Guarantee on any qualifying unit brought in for the sale; buyers can purchase the 95% Buyback Guarantee on any qualifying vehicle that isn't already enrolled in the program for $75 plus the cost of a post sale inspection. 

"It's a no-brainer!" said Jorge Barrero of Arbol Auto Sales in Hardeeville, SC. "I put a Buyback Guarantee on everything that I buy. It gives me confidence. I can buy what I need, and if the deal goes south, I can bring it back to the auction and not lose a ton of money!!!" 

"I only visit two auctions: one that is five miles away from my home, and the Charleston Auto Auction," continued Mr. Barrero. "I come here for the honesty and integrity of the organization. The Charleston Auto Auction stands by their customers, and the 95% Buyback Program is just another great example of their commitment to the dealer." 

Bob Rivers of RWR Wholesale in Chapin, SC agrees. "The Charleston Auto Auction was the first place I heard about this idea. I buy for 5 or 6 companies and this 95% Buyback Program has saved me a ton of money! If I had to take these cars back and sell them myself, I would lose a ton of money. Not to mention the savings on my floor plan expense!" 

Sellers are discovering that the 95% Buyback Guarantee is an effective tool for boosting their sales. 

"I would have never believed it, but the 95% Buyback Guarantee has really given us a substantial lift in our prices," says Darrin Aiken, VP Operations and Remarketing for Wheels, Inc. "That has been very important, especially this time of the year when prices are generally lower than normal. We have been getting better than 100% of our floor prices, and that is amazing!"

Charleston Auto Auction is a member of the ServNet Auction Group. It holds a sale every Friday at 10 am, with a damaged and disabled sale at 9:30 am. For more information about Charleston Auto Auction, visit their website at www.charlestonautoauction.net.

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