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Letter to the Editor
Tuesday January 25
Vemark Extends Live Salvage Auction Reach with BidCentral Virtual Bidding Tool
Vemark, a provider of end-to-end vehicle total economic loss recovery management solutions, has announced the release of BidCentral(TM), a new tool for salvage buyers designed to integrate with Vemark’s widely used SNaps(R) Auction Management solution for bid processing at physically managed salvage auctions. BidCentral enables vehicle salvage auctions of all types to present live physical auctions which seamlessly integrate and manage real-time bidding from remote buyers anywhere in the world.With no additional equipment or software, independent salvage auctions running SNaps 3.5 can immediately take advantage of this opportunity to sell simultaneously to salvage buyers physically present and those virtually present through the simple and inexpensive BidCentral Java-based virtual bidding console tool available from Vemark.
Doug Mellette, CEO of Vemark, commented, “BidCentral completes a circle of Vemark solutions that let salvage auctions offer their carrier partners a total set of options tuned for today’s marketplace. On the heels of 2004’s SNaps 3.0 release which added automatic electronic assignments and reporting through AssignNow(sm), the advent of SNaps 3.5 and BidCentral create an unbroken chain of low impact real-time technology and services – from source to sold.”
According to Steve Hammond, Vemark’s EVP & COO, “What could be more efficient than BidCentral’s ability to let buyers attend auctions without leaving their desk and extend their license to procure for other licensed buyers? We’ve succeeded in providing salvage buyers, sellers and assignors in the vehicle remarketing industry a strong technology platform with all of the tools necessary to achieve what sometimes seem to be competing goals. Vemark is committed to providing independent salvage auctions the ability to compete in top form, efficiently matching the supply of salvage vehicles with suitable buyers through all available channels.”
Working in concert with SNaps, BidCentral enables salvage auctions to manage physical auctions that seamlessly present interactive bidding between virtual and physical buyers. Bids received from registered and approved buyers using BidCentral™ are posted directly into the SNaps® system console in real-time allowing the auctioneer to monitor and control increments and effectively sell the vehicles. Live, incoming virtual bids can be projected onscreen at the physical auction to increase participation and quicken the bidding process. Buyers and auctions both benefit from BidCentral’s ‘Bid Watch’ proxy capabilities which automatically rebid for a buyer – up to their preset maximum – with no interaction required by either the auctioneer or anyone else at the auction. Awarding vehicles works as usual, with full control over the award granted by the salvage auction during or at the close of the physical auction.
Another key benefit to participating Vemark partner salvage auctions using SNaps is that BidCentral appears on buyers’ screens as the auction’s own technology – including use of brand identification to extend their auction’s reach far beyond its geographic boundaries.
To utilize BidCentral, salvage buyers simply register for virtual participation in the auctions of any Vemark auction partner. After registering and reviewing appropriate terms and conditions, buyers can obtain a low-cost annual license for the BidCentral virtual bidding terminal application, a compact Java-based desktop tool that enables them to participate live at auction from anywhere they can connect to the Internet.
Based in Boca Raton, FL, Vemark is a leading provider of Vehicle Economic Total Loss Recovery Management Solutions.
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