ACV Innovates Bidding with Expanded No Reserve Auctions Weekly
ACV Expands Its No Reserve Sale Schedule for Greater Success
ACV (NYSE: ACVA), a leader in the digital automotive marketplace, recently announced an exciting enhancement to its No Reserve Sale, now taking place four days a week. This strategic expansion is designed to boost engagement among dealers by offering them more chances to sell and purchase inventory through $0 reserve auctions.
The Enhanced Sales Schedule
Dealers can now participate in auctions every Tuesday, Wednesday, Thursday, and Saturday at 12:00 PM ET. This new schedule includes a fresh Wednesday sale and has advanced Saturday's auction start time from the usual 2:00 PM ET to a more consistent midday slot, thus maximizing dealer participation and experience.
Why Choose the No Reserve Sale?
The No Reserve Sale represents a powerful opportunity for dealers aiming to convert inventory into quick cash. Through ACV’s platform, sellers can choose their vehicles from the My ACV dashboard, receive a guaranteed payout, and set their cars for auction in a risk-free environment. If a vehicle sells for more than ACV’s guaranteed offer, the seller retains the profit, and if it sells for less, ACV compensates the difference.
Statistics That Matter for Sellers
The No Reserve format is gaining traction, and the numbers speak for themselves. Sellers enjoy:
- 85% of vehicles sold at prices above the guaranteed offer
- An average of over 10 unique bidders per vehicle auction
- More than 35 bids on average during each auction
- Over 100 views per auction, enhancing visibility
Dealers have the flexibility to sell just one vehicle or an entire fleet, all while enjoying in-app management tools and timely payments every 10 days. This streamlined process not only accelerates cash flow but also allows for significant profit potential.
Sellers’ Voices Highlight Auction Success
Iggy Cherkashyn, owner of Next Level Wholesale, shared his positive experiences with the ACV No Reserve Sale, stating it generates immense interest in vehicles. According to him, cars often attract three or four times more views, turning endings into fierce bidding wars especially highlighted during the auction's final moments—the “Golden Minute.” Sellers walk away thrilled with their earnings, as all profits beyond the guaranteed offer go directly into their pockets
Diverse Inventory and Opportunities for Buyers
ACV stands out as the only wholesale auction platform that offers hundreds of vehicles at $0 reserve prices nationwide. Thanks to the new four-day schedule, buyers can now seize opportunities to secure valuable inventory each week in a wide range of makes and models.
Key Buyer Advantages
Buyers also benefit greatly when bidding on vehicles:
- All vehicles are launched at $0 reserve, ensuring an established starting point
- Every car auction is guaranteed to sell: winning the final bid secures the car
- Early access to vehicle previews in the No Reserve Preview Lane, which helps buyers strategize bids
ACV’s Commitment to its Dealer Community
Vikas Mehta, the COO at ACV, emphasized the company’s commitment to making life easier and more profitable for dealers. The expansion of the No Reserve Sale isn’t merely about increasing frequency; it's an effort to empower dealers with better tools, control, and opportunities for success. The focus remains on transforming sluggish inventory into immediate cash, while helping buyers find the vehicles they need to keep their businesses thriving.
About ACV
ACV is driven to revolutionize the automotive sector by developing the most reliable and efficient digital marketplaces and data solutions. Their offerings encompass ACV Auctions, ACV Transportation, ACV Capital, MAX Digital, True360, and ClearCar. To discover more about ACV’s innovations, visit their website.
Frequently Asked Questions
What is the No Reserve Sale at ACV?
The No Reserve Sale is an auction format where vehicles are sold with no set minimum price, allowing for potentially higher sales and profits for dealers.
How often are the No Reserve Sales held?
The No Reserve Sales occur four times a week: Tuesday, Wednesday, Thursday, and Saturday at 12:00 PM ET.
What are the key benefits for sellers using ACV’s platform?
Sellers enjoy a guaranteed payout, risk-free transactions, and the opportunity to retain profits if their vehicles sell above the guaranteed offer.
How does bidding work in ACV’s auctions?
Every vehicle in the auction has an initial price of $0 reserve, and the final bid determines the winning price. Buyers win the car by placing the highest bid at the auction's close.
What drive’s ACV's mission?
ACV is committed to transforming the automotive industry by building trusted digital marketplaces and providing data solutions that facilitate the buying and selling of used vehicles.
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