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Manheim Auctions Experiments With New Wholesale Format

June 12, 2003

Manheim Auctions says it hosted cinema-style sales at its Atlanta Auto Auction on April 17 and its South Seattle Auto Auction on June 6.

Manheim’s first Cinema Sale was held for Honda dealers at the Atlanta Auto Auction. According to the company, more than 60 dealers attended and purchased 166 units, or 93 percent of the total vehicles offered for sale.

Cinema-style auctions, a widely used format in Japan, allow dealers to view still images, condition reports and other vital information on each vehicle projected on large video screens as dealers sit comfortably in a theatre-type atmosphere. In its two recent sales, Manheim used traditional auctioneers and ringmen to solicit and collect bids.

“From a safety standpoint, it makes sense for everyone,” said Gregor Roner, general manager of Atlanta Auto Auction. “Dealers get virtually the same experience as they would at a traditional sale and get good buys on vehicles they need, only in a more convenient and comfortable atmosphere, and consignors are given a method to effectively move vehicles they need to sell. Both Honda and Honda dealers were pleased with the results of the first Cinema Sale.”

The South Seattle Auto Auction Cinema Sale, during which 89 percent of the cars offered were sold, drew 38 BMW dealers to the lanes.

“Manheim did an outstanding job facilitating the sale and I can’t see a thing that needs to change. This is the way cars should be sold,” said Barry Thomson, used car

manager – foreign cars for Kuni Cadillac BMW in Beaverton, Oregon.

According to the comapny, both Cinema Sales were also conducted online via Manheim’s rapidly growing Simulcast tool, which allows dealers to remotely bid on and buy vehicles in real time. During the Cinema Sales, participating online bidders viewed the same still image and information for each vehicle that was shown to dealers in the lanes. Eight Honda cars were purchased using Simulcast during the Atlanta Cinema Sale and eight dealers participated remotely in the South Seattle Auto Auction Cinema Sale.

“The benefit of attending a Cinema Sale for dealers is that, instead of bouncing from lane to lane, on their feet for hours at a time, they can buy vehicles while they sit and relax,” said Jeff Corigliano, general manager of South Seattle Auto Auction. “And all the research prior to the sale can still be conducted in the same manner, by walking the cars on the lot or by checking condition reports online.”

About Manheim Auctions

Manheim Auctions offers services that impact every stage of a used vehicle’s life cycle. These include transaction, reconditioning and certification services, managed remarketing, end-of-lease-term management services, vehicle transportation, dealer floor planning, retail inspection and government auction services. The company also assists auto manufacturers, fleet and lease companies, banks and other financial institutions in selling their used vehicle inventories. A technology provider to the wholesale auction industry, Manheim offers technology tools that help dealers and national consignors handle their remarketing transactions more efficiently.

A wholly owned subsidiary of Cox Enterprises, Inc., Manheim Auctions has more than 32,000 employees at its 124 auctions and related businesses. Manheim is a global remarketing organization with 85 auctions in North America and additional operations in the United Kingdom, Spain, France, Australia and New Zealand.

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