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CAR-3

IARA’s Certified Automotive Remarketer Program: CAR-3

UNIT:  Remarketing Channels

COURSE:  CAR-3 Online Auction

Course Purpose

To define and describe the online auction channel in depth from consignment to sale completion, including auction type selection and methodology as well as the unique challenges of this channel (e.g., arbitration).  At the completion of this module, participants will be able to:

1.    Define and describe the various online auction types and methodologies

•    Fixed Price – Buy Now
•    Open Bidding Combination – Open Bidding with a Buy Now Price North of the Reserve
•    Open Sales
•    Closed Sales
•    Dealer Only Sales

2.    Identify and define the various policies surrounding online sales including terms of use, registration, payment, title, and arbitration policies
3.    Recall and explain the parameters of online selling including start and end times, proxy bidding, minimum bids, and bid history
4.    Identify and describe the sales process including inventory notification, documentation required for each transaction, and the post-sale activities such as payment, title transfer, and transportation to the buyer
5.    Explain and identify the unique challenges associated with online selling, including 24/7 support and arbitration policies

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