REVERSE AUCTIONS – PUTTING YOU IN THE DRIVER’S SEAT

March 9, 2017

Most Australians are familiar with the concept of an auction. Many of us have bought or sold a house at an auction, or we’ve seen them in action on one of the home renovation reality TV shows.

So, we know the deal – people take turns putting their hand up to increase the bid, with the price going higher and higher until no one wants to pay any more.

Reverse auctions work best when there are numerous vendors competing for your business. Which is why reverse auctions work so well when you’re looking to buy a car.

Auctions are designed with the seller in mind, and getting the highest price possible is the goal.

That’s great for the seller, but what about the buyer? Yes, sometimes bargains can be had, but generally the winner is the person doing the selling.

And that’s where reverse auctions come in.

In a reverse auction, the role of the seller and buyer are reversed. In a complete flip of the usual roles, the sellers compete to win the business from a buyer, and prices go down as the sellers underbid each other.

It’s an attractive formula, and it gets great results. It’s time efficient, and it’s transparent. Buyers can clearly see who wants their business, and what they are willing to be paid for it. Big businesses know that they work: that’s why most of them procure their supplies and services through reverse mortgages.

Reverse auctions work best when there are numerous vendors competing for your business. Which is why reverse auctions work so well when you’re looking to buy a car.

The AutoTender reverse auction model puts our nationwide network of dealers into the ring together, and lets them duke it out to see who’s happy to accept the sharpest price.

With so many dealers keen to win your business, the price comes down literally in front of your eyes, bid by bid. At the end, you decide which bid is right for you, and then you get in contact with the dealer directly to do the deal.

Now that’s what we call putting you in the driver’s seat.