ADESA, Hertz Partner for 22-Site Sale

By Staff Writer August 03, 2020

ADESA hosted a single digital auction event with vehicles in 22 different locations using the company’s Simulcast+ technology. The sale was hosted in late July on behalf of The Hertz Corporation and sold vehicles to buyers in 19 states across the country. Simulcast+ is ADESA’s new digital auction platform that simulates the competitive live auction environment in a fully digitized, highly automated, live streaming format.

“We launched Simulcast+ months ahead of schedule to support our customers during the COVID-19 lockdowns, and it has grown exponentially since then,” said Jim Hallett, chairman and CEO of KAR Global, ADESA’s parent company. “It’s faster than a physical auction, it’s safer than a physical auction, and it allows sellers and buyers to participate in live auctions anytime, anywhere. Last week’s successful Hertz sale reinforces Simulcast+ as the premier solution to effectively remarket inventory from multiple locations and reach a broad, highly engaged national buyer base.”

The Simulcast+ technology was first utilized by ADESA in April 2020 and has since been used for more than 400 auction events. Over 11,000 buying dealers have participated in those events, casting over 400,000 bids and resulting in tens of thousands of digital vehicle sales.

“We were pleased with the results of this sale in terms of dealer attendance, bidding activity, conversion and proceeds,” said Jeffrey Adams, senior vice president of remarketing at The Hertz Corporation.

For sellers, the Simulcast+ platform offers full control to set and adjust floors, pass on bids, post new asking prices and communicate directly with buyers during the sale. The integrated seller dashboard also captures comprehensive pricing, bidding and behavioral data that can be utilized to inform and market future sales. For buyers, Simulcast+ provides the ease, convenience and safety of bidding from any location and allows access to sales well outside their usual geographic auction market. It also delivers a more transparent bidding experience by clearly displaying every bid and every bidder on every sale. 

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Last modified on Tuesday, 04 August 2020 13:56

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