Cooper Solutions removed its sellers\u2019 fees at the beginning of 2019 in a move to further support dealers selling through its trade-only online auction site, FullAuction. As the year draws to a close, the business has confirmed that fees will not be re-introduced in 2020, therefore continuing to add value to its trade remarketing solution by maximising profits for retailers, crucial in the current competitive and challenging market.<\/p>\n
FullAuction delivers similar or better results against CAP as physical auction houses and the large online players, but allows dealers to sell their trade stock and keep 100% of the profits. Analysis has shown that many dealers sell their stock through FullAuction before a physical auction has even collected the vehicles.<\/p>\n
Dean Pipitone, Managing Director for Cooper Solutions, commented, \u201cMaking the decision to stop charging sellers has helped increase dealer profits. Without the overheads of physical auction houses, FullAuction delivers a cost-effective remarketing solution, and without sellers\u2019 fees, it is an even more profitable route to disposal of stock.\u201d<\/p>\n
Cooper Solutions has carried out detailed research into the profitability of physical vehicle auctions. After reviewing more than 44,000 car sales, it was found that physical auction fees are typically larger than the profits retailers make on each sale, putting undue pressure on dealers\u2019 margins. Not only does FullAuction reduce the cost of selling for dealers, it also reduces the time it takes to dispose of stock, meaning dealers get the money in the bank more quickly, boosting their bottom line.<\/p>\n
Dean Pipitone continued, \u201cFullAuction boosts the average pounds per unit and CAP performance by optimising the mix of well described stock, a large pool of buyers and outstanding profits for sellers. We have an ongoing commitment to deliver the best in digital solutions for dealers, which includes continually reviewing and improving existing solutions. Even the most successful solutions can have the potential to serve the market even more effectively, and we are committed to investing in FullAuction to ensure it continues to provide valuable support to our dealer partners.\u201d<\/p>\n