We are now making about 4,500 live offers per day on our product Trade in Marketplace. It is settleing in to become the future of valuation. Trade in Market Place is now in 27 metro markets. Dealers can sell us any car or their entire inventory at any one of these locations.
Spotters are a smash so we added two more for next week. Dealers from around the country are using our product. Our simulcast results are the proof. Every dealer that used the system was simply thrilled. If you were one of the 404 dealers logged in on simulcast I thank each one of you. This week I sold 99% of first time run units and 97% overall.
Now the market. We sold a total of 535 units last week in twenty nine staes and twelve different countries. We are on track to sell close to 3000 units for the month. Can you say new world record? It looks as if we will break our previous record of 2768 by a significant amount. Our lanes were packed bell to bell. Simulcast is really important at this point. More first time buyers are able to understand that in my lanes they are able to buy with "no fear". They simply can't get hammered because we own our units and will stand up, not run and hide or "if and but", when there is an issue.
Toyotas are really back. Late model Lexi have to be the right one, but if they are, they are rip roaring good. If they are off a click, they are mud. Junk was OK, but not super. In general there is no energy in the market. It feels like late November, not July. With the exception of West Africans and a little MiddleEast action, the export market is not a factor. There are a tonne of Canadians watching, but minimal action. The Russians are there, but they are really selective to the point they have the impact on the market like they used to. In fact, I bought 23 units from a Russian this week who bought cars, could not ship them due to new regulations there, and got his brains torn out. Not my fault, it is the market. I don't make the market, I just play in it (sorry Vladamir). The Chinese are buying, but onesees twosees, not deep.
The Porsche market has chilled and all sports cars have taken a major twist lower, if you want to sell. Good BMWs that don't look like they came from the lease lane are on fire. Same with MB. Late model E350s have made a comeback as there are fewer in the "in-play" arena, but they have to be the right one. The rebates have had an obvious impact on the desirability of late model trucks. Who needs an '09 or '10 when new ones are free? Loaded trucks remain irrationally high, but the older the better.
People tell us that cars are scarce, but once again this week I expect to have over 500 fresh trades at Manheim. We are dedicated to make your trip to Manheim an experience that will make you come back... every week. Dealers, remember, when you buy a car from me, and you find a reason you don't like it...give it back...that day. Forget arbitration, if you don't like it, you are not allowed to have it. In any of our lanes, at the world's largest auction, you can buy any car from us with "NO FEAR". I am not here to hit and run. I am here to be your primary source of creamers...fresh cars you need and can't find 52 weeks a year.
Dealers, as always, if you drive in from Kentucky, Kansas, Indiana, or North Carolina, you get the $200 appreciation discount on your third purchase. I want your butt LIVE in the lane, not on the internet. You bust your ass getting to Lancaster Pa. and I'm going to make it worth your trip. Simulcast is good, but I would rather have you in the lane. I am here to help you get the job done.
Semper fi, do or die,
The "Maestro of Manheim".
Robert Hollenshead
Founder and President
BuyBook Technologies, Inc.
1373 Lancaster Rd
Manheim, PA 17545
bob@buybooktech.com
717.664.2700 Manheim office
610.960.6346 cell
888.225.1850 fax
Never sell a car before you get a purchase guarantee
Never trade a car before you get a trade-in guarantee
Never lend money without a current market value guaranteed appraisal
Never accept what your insurance company offers without checking the diminished value
Dealers: Take advantage of our Spotters! It really works. We must of had 30 dealers call me after the sale to tell me how much they love Spotters. If you are like most sharp buyers and know condition reports are more often wrong than right, give Spotters a try, it is free, recorded, and gauranteed. If my guys are not telling you the way you see it when you get it...I'll buy it back. Anybody else on earth got the intestinal fortitude to make you that offer? We are not playing hop scotch. We are not "repping" other dealers cars. When you buy a car in my lanes, you are buying a car I own. You will not get a "hide and seek" answer when you have a question on where it came from or if it isn't what you thought you bought. We are here to get the job done, period.