ACV Auctions Expands No Reserve Sale Program to Four Days a Week, Boosting Competition and Sales

ACV Auctions has expanded its No Reserve Sale program to four days a week, increasing opportunities for sellers and buyers. The auctions now occur on Tuesdays, Wednesdays, Thursdays, and Saturdays, attracting over 10 unique bidders and an average of 35+ bids per auction. 85% of vehicles sold exceed the guaranteed offer, providing sellers with guaranteed payouts and potential upside earnings. The platform offers diverse inventory options to meet buyer needs, supporting dealers' business operations.

ACV Auctions has significantly expanded its No Reserve Sale program, now offering auctions four days a week. This expansion provides dealers with more opportunities to sell and source inventory, as well as buyers with increased chances to secure deals. The auctions now take place on Tuesdays, Wednesdays, Thursdays, and Saturdays at 12:00 PM ET.

The No Reserve Sale platform allows dealers to sell vehicles with no reserve, meaning the vehicles are listed at zero starting price. This format has proven to be highly effective, with 85% of vehicles selling above the guaranteed offer, according to ACV [1]. This means that if a vehicle sells for more than the guaranteed offer, the dealer keeps the additional amount. If the vehicle sells for less, ACV covers the difference, ensuring no financial risk for the seller.

The increased schedule has been well-received by dealers. Iggy Cherkashyn, owner of Next Level Wholesale, noted that the expanded schedule has led to more views and higher bids, with some vehicles receiving up to 100 unique bidders and an average of 35 bids per auction [1]. This increased competition and engagement can lead to higher sale prices and improved inventory turnover.

ACV's No Reserve Sale program offers a diverse range of inventory, with over 1,500 vehicles launched each week across various makes, models, and price points. This diverse inventory meets the needs of a wide range of buyers, supporting dealers' business operations and helping them maintain full lots.

The expanded schedule also provides buyers with early access to inventory through the No Reserve Preview Lane. This allows buyers to make notes and set proxy bids, giving them a competitive edge in securing the vehicles they need.

Vikas Mehta, COO at ACV, stated that the expansion is about giving dealers more control, more options, and more opportunities to win. Whether sellers are looking to drive wholesale profits and move inventory quickly with no risk, or buyers are hunting for the right vehicles at the right price, ACV's No Reserve auction days deliver real results [1].

In conclusion, ACV Auctions' expanded No Reserve Sale program offers more opportunities for both sellers and buyers. With a diverse range of inventory and increased engagement, the platform continues to support dealers' business operations in a competitive market.

References:
[1] https://finance.yahoo.com/news/acv-expands-no-sale-four-143600831.html