How a used car dealer buys at auction | The AI Car Dealership Project | Episode 5
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- Опубликовано: 31 июл 2024
- We learn from award-winning used car dealer Jamie Caple of Car Quay how he buys cars at auction. He takes us through the shortlisting process, what margin he wants to have in cars and what he's looking for in the auction lanes.
The day gives apprentice James Baggott some ideas on how he can use the experience to train AI to buy used cars for the AI Car Dealership project's Clever Car Collection used car dealership in the future.
Join us as Jamie gives his tips on what to look for at auctions, how to price cars accordingly and why it's important to make sure you don't spend too much on them.
In this episode you'll see Jamie work his way through auction house Aston Barclay's catalogue and shortlist vehicles and then we head to the live sale to try and buy some cars.
In this video:
00:00 - Intro
00:20 - Shortlisting cars
05:58 - Heading to auction
07:38 - Why buy there?
09:01 - In the halls
11:51 - Very smelly
13:00 - Winners
14:28 - What I learned
15:22 - Next time
Stay tuned to this series as James documents every step of his journey, from humble beginnings to aspirations of owning a full-scale dealership with a forecourt and maybe even a workshop. Expect insights, challenges, and the real story of integrating AI into the heart of a used car dealership.
Subscribe to our channel for regular updates and join me in discovering how AI might just redefine the car dealership industry.
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Your support and feedback is very helpful! Drop your thoughts in the comments and any tips greatly appreciated... believe us, we need them. 
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Good of Jamie to accommodate you. Great episode.
Done a screen on a Citroen like that before, was plug n play. Not so bad to do!
Great video, nice that Jamie has his own workshop to run them through, hence the willingness to take a perceived punt on someone them. Great video, keeping it real with the content, yet polished presentation!
Thank you. Glad you enjoyed it. Jamie does indeed have his own workshop who work hard getting his cars ready for him. He needs it with 250 of them in stock!
Great video, really enjoying following your journey 👍🏻
Thanks Ian. Glad you’re enjoying it
I massively disagree with Auto Trader pricing I would manually check to see whether Car for that age and mileage would be pricewise. Auto Trader shouldn’t be allowed to dictate the market by giving indicators of high and low prices because each vehicle is differently, depending on condition and mileage
Interesting. Where would you manually check the pricing? Genuinely interested to hear how others do it differently ^James
@@CarDealerMagazine if you search for the vehicle that you are buying from Auction. And then manually input into Auto Trader vehicle make, model and mileage directly into Auto Trader, where the vehicles are being sold you get a more idea of how many vehicles have been listed for sale and what the prices are on sale. Auto Trader should not be allowed to dictate. Each vehicle is different one might have more owners or might have less mileage, colour of a vehicle also makes a difference. Auto Trader doesn’t take any of this into consideration. It is so annoying when they put indicator on saying this vehicle is priced high or priced low.
@@manjinderbassi6394You’re looking at it upside down. If you’re a trader and you have access to Autotrader’s trader portal, you’ll know exactly what they do with the data and why they have the system they have. Instead you’re using an unproven indicator (other sellers desired selling price) as a way of pricing your car. As you say, every car is different. Autotrader collates all that data relating to all those differences in real time and gives traders the best chance at getting the most for their car in a reasonable amount of time.
If Autotrader were ‘dictating the market’ then we wouldn’t have seen the volatility we have in the last year. Autotrader reacts to the market and gives their members insight into how to navigate pricing. It’s not the be all and end all and isn’t gospel but it’s a very vital tool.
Used car sales has been data driven for a while now. Part of the job as a trader is to be a data analyst as well as a marketing guru.
It’ll be an algorithm that decides the pricing on autotrader. It’ll work just like the caps guide price. The algorithm will know what those cars have been retailing at (respectively) of age, mileage, spec, service history, keepers…. Etc, effectively it should be a “ guide “ as the motor trades pricing changes a lot. Remember how much used cars and new was retailing for in 2021?
@@CarDealerMagazineI would manually seek for those cars and look at the prices and why, high mileage, poor history, lots of owners and then decide if the recommended price is too high or too low.
A belter of an episode 👌
Thank you. Glad you enjoyed it
Great episode as usual
Thank you. You watched that fast!
A £3000 margin on a car from the auction?? In my experience anything worth having at the auction goes way over guide price...
Surely that X5’s rear suspension ( if broken ) would of been on the mechanical report? One of the drivers could have been playing with the hydraulics.
I agree about the “online only auction house“ comment you made. I worked for them when they stopped physical auctions during lockdown 1.
I do believe that sale they did in Nottingham was a flop. My friend still works for them as a transport class 2 driver. I asked if they are going back to physical sales, his reply was not looking promising, he’s the one that said it was a flop they hardly sold a thing
Like the music
Wake up people…Baggot’s back with another installment.
Yes, sorry about that...
thanks for video
Most welcome
Autotrader guide price is always slightly lower then what traders have the car on for on the site
why would anyone sell a car for less than its worth ? the only reason is because it has a problem ! all car dealers need to make a profit, car auctions allow them to trade in rubbish cars that they can shift off the lot. traders that buy from auctions and make £3,000 profit are just crooks, they dont care about the cars or the customers just money