Cooper Solutions has removed its seller fees in a move to further support dealers selling through its trade-only online auction site, FullAuction. Cooper Solutions is adding value to its trade remarketing solution by maximising profits for retailers, vital in the current competitive and challenging market.
FullAuction delivers similar or better results against CAP as physical auction houses and the large online players, but now 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 house would have even collected the vehicles.
Barry Cooper, Managing Director for Cooper Solutions, commented, “Making the decision to stop charging sellers will ensure further increases in dealer profits. Without the overheads of physical auction houses, FullAuction delivers a cost-effective remarketing solution, but now it is an even more profitable route to disposal of stock.”
Cooper Solutions carried out detailed research into the profitability of physical vehicle auctions. After reviewing more than 71,000 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’ 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.
Barry Cooper continued, “FullAuction 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.”