Posts

The Psychology of the Live Auto Auction: The Last “S,” Scarcity

In this series, we have been analyzing the live auto auction environment, the inspiration for our business. We spoke about the pulsing, tense frenzy of the auction floor. We even compared the auction floor to a casino, and the bidding itself as a cutthroat competition or a fierce game of “Defend the Castle.” RideSafely – Online car auction business evolved from our deep understanding of the auction environment, so we are able to make the process more efficient for you. Greater efficiency leads to greater profits.

The business model that RideSafely – Auto Auctions is reinventing creates a CESSpool of panic, competition, desire, and fear. In this series, we have broken the auction floor into four psychological factors, which comprise the acronym “CESS.” In this post, we discuss the final “S,” scarcity.

 

Scarcity

  • The auction started at 6:00.
  • It’s now 7:30 and there are only about ten cars left, only one of which is on your target list.
  • Don’t think that the auction assistants aren’t being paid to make sure that you know that time is almost up.
  • This is the equivalent of the big billboards screaming, “Only 3 days left!” You are being pressured by scarcity.
  • If you still have serious competition, and the clock is running out on you, you will have to fight the “C” of the CESS-pool.
  • Competition. Few chances left. Time running out. Gotta win one. Win the auction, lose your shirt.

The Fix


Just like you started out the evening, you have to breathe, collect your thoughts, keep your cool, and view the auction with a tape running through your mind:

“No deal is better than a bad deal.”

Just think about the long view.

The hundreds of dollars you save today will help you capture the best deal at the next auction.

If you are a dealer, this is exactly why you make sure everyone knows that you are on your last few vehicles. Not only does moving everything through as fast as possible send you and your employees home on time at night, it puts pressure on your buyers to come away with something rather than nothing at all.

 

RideSafely – Online car auction plays both ends of the scarcity game. For the dealer, we make a market for your individual car, not for all cars of the same year, make, and model. For the buyer, we break down the barrier of location; if the car she wants is in New Mexico, we can get it to her. The buyer feels safe with RideSafely.com because we guarantee the lowest price on all “BUY NOW” listings.

To summarize, the auction floor is a terrible place to make decisions on the fly. If you are going there to try to find a deal, come prepared. Do your homework, know your strategy, and don’t let your money get flushed down the CESSpool along with your composure under the pressure of the auctioneer’s gavel. RideSafely – Online auto auction offers both the buyers and sellers a better way.

Shortlink:

Search online auto auctions

 

cars
motorcycle
truck
bus
tractor
rv
boat

 


The hundreds of dollars you save today will help you capture the best deal at the next #autoauction… http://rdsf.ly/RTf

— Products shown: We Hold a Flat Rate of $299 Transaction.

Posted by RideSafely.com on Monday, December 5, 2016

 

Recent questions

The Psychology of the Live Auto Auction: “C,” Competition

You recall that in our article: “Win at Salvage Car Auction – But Lose Your Shirt?”, we spoke about the pulsing, tense frenzy of the auto auction floor. The business of RideSafely.com evolved from our deep understanding of the auto auction environment, so we are able to take some of the cold sweat out of the process. Less stress means more buyers for your inventory. Read more

Dealing with RV Water Damage: The Basic Repair Process. Part II

In our last post we talked about the dreaded problem that is RV water damage. We also discussed how a good deal of water damage may be manageable and worth going through the effort of making repairs.

Once you have identified the extent of water damage and attempted to discover the source, the next step is to begin repairs. Fixing water damage is a very involved process.

It involves several steps, which can be basically broken down as follows: Read more

Dealing With RV Water Damage: Salvage or Scrap? Part I

Finding a salvage RV can be a great deal. With repairs, the vehicle can be made recreation ready again after a little bit of work. Some salvage RVs can end up being more trouble than they are worth. Recognizing how extensive and expensive it will be to get an salvage RV back into shape will determine whether or not the salvage RV project is worth taking on. Read more