SALVAGE BUYER BIDDING TOOL INTRODUCED

BidCentral, a bidding tool for salvage buyers, has been introduced by Vemark, a Boca Raton, Fla., firm specializing in vehicle economic loss recovery management solutions.

BidCentral integrates with Vemark’s SNaps Auction Management solution for bid processing at physically managed salvage auctions. Users of this program have a true virtual marketplace in which vehicle salvage auctions’ live physical auctions seamlessly integrate and manage real-time bidding from anywhere in the world.

With any additional equipment or software, independent salvage auctions running SNaps 3.5 sell simultaneously to salvage buyers physically present and those virtually present using the BidCentral Java-based virtual bidding console tool.

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 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.