Q&A: Meet Selectbidder CEO Sean Liptay

Posted by Selectbidder on Mar 15, 2016 9:10:36 AM

We always knew our CEO Sean Liptay was awesome, but now others are taking notice.

Sean has made Auto Remarketing Canada’s 2016 class of Remarketing’s Under 40 list. The list features 20 industry professionals across Canada and we're proud to see his passion and handiwork getting recognized on the national stage.  

To help you to get to know Sean a little better, we sat him down for a good ol' Q&A session:

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Topics: selectbidder



3 Reasons Why 2016 Is The Year Of The Independent Auto Auction

Posted by Sean Liptay on Jan 12, 2016 8:30:00 AM

There is nothing permanent except for change

The auto industry is in a state of constant change and this affects how auctions operate. For instance, the trade-in demands of dealerships and consumers are changing and technology is providing a solution. Unfortunately a lot of these dealer to dealer solutions cut out the auto auctions entirely.

It's a scary reality. But it doesn't have to be.

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Topics: Auto Auction



5 Things Auto Auctions should know about the changing industry.

Posted by Selectbidder on Oct 30, 2015 9:09:38 AM

1) Go tech or go home

Like many other industries technology is changing auto wholesaling. Applications and online platforms are emerging that are making it easier than ever for dealers to move their trade-ins. Dealer2Dealer, TradeRev, Dealerslink (to name only a few) have created new ways for dealers to move trade-ins– without auctions.

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Topics: Wholesale, Technology



Technology: Auction Friend or Foe?

Posted by Selectbidder on Sep 10, 2015 8:56:00 AM

You've heard it all before.

Unless you've been under a rock for the past couple decades, you know technology has drastically changed the way we live our lives. Technology has also changed the way people do business. When was the last time you bought a CD? Or rented a movie?

The auto auction industry is no different.

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Topics: Technology



Remarketing Sin 6/7: Don’t be Greedy, Consider All Offers

Posted by Sean Liptay on Aug 20, 2015 12:06:00 PM

In this series we are looking at the Seven Deadly Sins of remarking. 

When offering a fresh vehicle to your network, buyers know to make offers before it “slips through their fingers”. They make reasonable offers in hopes of adding the unit into their inventory.

The failed vehicle in the wholesale system is the one that has been denied reasonable offers from the right buyers. In essence you’ve slighted your market. Buyers feel they are in the best position to make the best offer on the piece, and they probably are…The immediate buying pool will begin to shrink, the offers will come in smaller, and you’ll have to spend money casting a wider net to draw in more buyers.

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Topics: Wholesale, remarketing



Wholesale Prices Dropping in The Fall Market

Posted by Sean Liptay on Jul 30, 2015 12:34:00 PM

In the fall market wholesale prices are dropping, just like the leaves from the trees. With the exception of full size pick-ups and compact automatics.

Why?:

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Topics: Wholesale, Market



Looking back: Wholesale Auction Signals

Posted by Kevin Berry on Jul 30, 2015 12:18:00 PM

When I was a university student in the late 80’s, I attended the Vancouver Auto Auction with my father. I would drop him off and he’d drive one of his buys home or I would grab some friends and we’d pick up cars for him. He would pay us instead of the “auto-hiker” service (as it was called).

That auction was such a rush, sending 600 cars through three lanes in a couple of hours. As an outside observer, it was difficult for me to follow along. The ring men were yelling, the audience was buzzing, and it was nearly impossible to see who was bidding.

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Topics: Wholesale, Auto Auction



Remarketing Sin 7/7: Lusting After that Perfect Piece

Posted by Sean Liptay on Jul 30, 2015 12:09:00 PM

In this series we are looking at the Seven Deadly Sins of Remarketing.

It’s true in relationships and with cars. How many times have you been in the auction lanes and you see the one car that everyone’s eager to buy? It’s the right color, the right model, and has everything going for it. You know it’s the car that’s going to fly right off your lot. The problem is, it’s the car that’s going to fly off everyone’s lot.

So the bidding begins, and two dealers decide they just have to have the car, no matter what the cost. What happens? Too many times that car goes for close to, or more than retail in the lanes.

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Topics: Wholesale, remarketing



Remarketing Sin 4/7: Be Competitive, Not Proud

Posted by Sean Liptay on Jul 30, 2015 11:49:00 AM

In this series we are looking at the Seven Deadly Sins of Remarketing

It’s dangerous to have too much pride in your current wholesale process and think that new ideas and processes are not a smart way to operate.

“It’s the way I’ve always done it and it’s working” - is risky thinking in this competitive marketplace.

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Topics: Wholesale, remarketing



Remarketing Sin 3/7: Wrath to Arbitration

Posted by Sean Liptay on Jul 30, 2015 11:46:00 AM

In this series we are looking at the Seven Deadly Sins of Remarketing

Wholesaling can lead to arbitration when one party of a transaction getting ‘burned’ on a unit. Arbitration usually happens when there are undisclosed or unknown issues, kept from a buyer.

In defined arbitration at auctions, the buyer has formal recourse. Whatever the result, the buyer will take note of the selling dealer for future reference.

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Topics: Wholesale, remarketing