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Saturday, March 26, 2016

Auto Auctions: The Online Entrepreneurs


The auto auction business is definitely one that is rooted in traditional values, and let's be honest... it is an industry that did not exactly swoon at the idea of selling vehicles online. Of course, in their defense, it had more to do with a firm handshake, kicking tires, and interacting with customers than having an aversion to technology. The auto auction business simply has a heart. 
Needless to say, crossing the bridge to the virtual space, although it has almost become a requirement, has not been an easy transition for companies that spent many years developing their close-knit communities.  There were never any real guidelines, and the lack of success, even at this point, has done nothing to alter the original belief system. Yet, the technology keeps moving at lightning speed. Meanwhile, auto auctions are working hard to maintain their old-school brick-and-mortar charm while putting forth an effort to repel the prediction that, not being online, will mean 'certain death' -so to speak.
For some auctions with the infrastructure to support this virtual expansion, the change is not a threat to the operation. However, if we're talking about an auction where the General Manager is out checking in vehicles because a lot person called in sick, then posting event highlights to social media is probably not going to be high on the operational priority list. That being said, the majority of auctions are beginning to spill more of their resources over into their online facility in an attempt to future-proof their business. Long-time auction owners and Managers are becoming online entrepreneurs. The evolution is happening right before our very eyes. So if you're an auction owner, or a General Manager, I just have one question for you... When it's all said and done... will you be ready?