Dealers could double the number of bids they receive on the platform – just by adding more photos to their stock listings.
That’s the headline news from a new tranche of advice that Dealer Auction has released as part of its commitment to help sellers get the most out of its services.
Analysis of vehicles sold on the digital marketplace indicates that listings with 2-5 images receive 4.1 bids on average, while listings with 11-20 images 8.2 bids on average. As a result, a dealership that uploads just a few images per vehicle could achieve a ‘quick win’ by adding more images in future.
The data is further backed up by a Cox Automotive dealer sentiment survey in February 2021, which found that 87% of dealers view high-quality imagery as ‘very important’ or ‘important’ when buying used car stock.
Le Etta Pearce, CEO of Dealer Auction, said:
“Over the past 12 months, dealers have had to be agile and find new ways of working – including how they purchase stock. With used cars dominating the market, expanding stock sources to maximise forecourt profitability has never been more important.
“Simply having an online presence isn’t enough. Sellers need to make their vehicles stand out, and give their buyers confidence in the quality of the vehicles on offer. Imagery plays a key role in building a story for the buyer.”
With 38% of dealers increasing their use of digital-only auctions, digital tools are playing an increasingly pivotal role in supporting the automotive industry. Dealer Auction says a key part of its mission is to help all dealers build the skillsets needed to market vehicles and flourish in a digitally-led economy.
Pearce added that image quality, as well as quantity, is coming to the fore as an influencing factor:
“It’s all about trust. Digital sellers should treat fellow traders with the same care, respect and transparency as they do with consumers. While adding more images is proven to attract more bids, it’s still important for dealers to be selective with the images they upload – making sure they are sharp, well-lit, and have uncluttered backgrounds.”
Finally, Dealer Auction stressed the importance of detailed condition reports in confirming buyers’ instincts: 89% of dealers said having a condition report is ‘very important’ or ‘important’ in influencing their buying decisions.
The Dealer Auction platform actively encourages sellers to take as many photos as possible – sharing image guides and YouTube video functionality – and provides a simple and intuitive condition report system.
“The move to digital is exciting for dealers and we’re proud to be leading the way as the industry really starts to embrace new ways of working. Diversifying stock sources will be instrumental for dealerships moving forward and digital auctions will be essential to success.”
About Dealer Auction
Dealer Auction is the UK’s smartest automotive digital wholesale marketplace. We give buyers and sellers more choice, better insight, and greater margin. Dealer Auction is an independent company, created through a joint venture between Cox Automotive and Auto Trader.