Manheim Auctions announced June 3 that it will launch a new advertising campaign this month that details the value of the auction process and illustrates how the competitive bidding process benefits both buyers and sellers.
According to the company, the print campaign will run through December 2002 in 11 automotive trade publications: Automotive News, AutoExec, Auto Remarketing, Dealer, Ward's Dealer Business, Auto Remarketing Weekly, Used Car Dealer, Used Car News, Automotive Fleet, Vehicle Remarketing and Auto Rental News. In total, Manheim says it will spend more than $100,000 on the campaign.
Manheim says the two different advertisements – one with a photo of an ancient sculpture and one of John F. Kennedy’s golf clubs – show items that attained high selling prices at auction, drawing parallels to the open, live, competitive bidding atmosphere of auto auctions.
"We are very proud of our industry," said Jamie Porter, senior vice president of operations for Manheim Auctions. "Auctions bring buyers and sellers together. They represent the open market at its most basic level, and drive the used vehicle marketplace. The advertising campaign and its simple, central message about the value of auctions is our way of doing something beneficial for the remarketing industry."
Manheim claims the advertisements serve as a reminder that auto auctions create a unique situation where the needs of both the buyer and seller are met. Sellers receive fair value for their product with the possibility of selling at a price higher than market value, depending on demand. Buyers determine product value in a competitive marketplace, and are able to see firsthand the demand for the product they are buying.
"Auctions not only are exciting and contagious atmospheres, they are the best forum for determining value," said Ray Nichols, chairman of BSC America and current president of the National Auto Auction Association (NAAA). "Manheim’s ads represent what we understand about our industry – that to get true market value for a vehicle or anything else, the auction is the place to go."
"These ads convey the intrinsic value of a competitive bidding environment," said Larry Tribble, owner of Southern Auto Auction in East Windsor, Conn., and past president of the NAAA. "People might have a good instinct what a product is worth, but until it is placed in an auction format, they won’t know what the demand for the product is or what it is truly worth."
According to Manheim, while providing a live, open marketplace is the foundation, auctions now protect buyers and sellers alike with product guarantees and warranties to assuage the normal fears associated with any transaction.
About Manheim Auctions
Manheim Auctions says it 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 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 France, the United Kingdom, Australia and New Zealand. In the year 2001, the company says it auctioned more than 9.5 million vehicles at its North American auctions.
