7 Best Practices to Market Your Vehicles

Wondering how you can more effectively sell wholesale vehicles on our digital marketplace? We’ve got your back.

Following these best practices will help you become a trusted seller, build a buyer base and make your wholesale process faster across all our sales types. If you use all these tactics in tandem, you’re well set up to become an OPENLANE power seller.

1. Maximize potential by selling on all sales formats

The more sales types you use, the more eyes you’ll get on your vehicles. For example, try a 45-minute auction first, then for your next vehicle, try a Weekly Simulcast Sale. This will help expose your vehicles to different potential buyers. And the more vehicles you list and sell, the better you’ll get at determining the optimal venue for different vehicles.

2. Take additional pictures and videos

Look, a picture is worth a thousand words for a reason. The more videos and pictures you provide, the more quickly and easily a buyer can decide whether and how they’d like to bid. It also helps reduce the risk of any issues down the line.

3. Be transparent

We cannot stress transparency enough. Bidding in an online wholesale auction requires some level of trust. You can maintain it with your buyers by using proper disclosures, and calling out anything they may want to know or that could impact how they might value the vehicle. Remember: no surprises = happy buyers, and happy buyers are repeat buyers.

We also take this seriously, and not disclosing vehicle information can result in a lengthy and costly arbitration.

4. Use our Market Guide

Our Market Guide is Canada’s most powerful wholesale pricing tool, capturing OPENLANE’s vehicle car price transactions on a daily basis. Sold prices for wholesale vehicles are input into the guide daily, giving you access to data points to help you decide if you should accept or decline an offer. Using the guide can help you sell with greater confidence. Learn more about how OPENLANE’s Market Guide helps you!

5. Set a Realistic Floor Price

Listing realistic floor prices shows buyers that you’re committed to selling your vehicle. It can increase the likelihood of a sale, and also builds a better reputation for you as a seller.

6. Set up notifications

You can choose which notifications you want to switch on, and you can change them at any time in your settings. They keep you looped in on important marketplace activities that can make or break a sale.

7. Timely transfer of ownership

Transfer your ownerships as soon as possible when the sale closes, so you can keep up a good reputation as a trusted seller.

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For any questions, give us a call and one of our team members will be happy to help.

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