Closed Auctions

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Fri 18 Oct 2002 15:13
Closed Auctions - Vin {P}
When BCA run a closed auction, I know that it is closed to retailers of that brand and selected dealers.

What I can't get is how the seller gains from doing this, as they must be restricting the number of potential buyers and hence restricting the prices they receive.

I know I'm missing something here. Anyone know what it is?
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Fri 18 Oct 2002 15:49
Closed Auctions - Paul Robinson
It's all about manufacturers trying to control residual values!
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Fri 18 Oct 2002 15:52
Closed Auctions - Steve G
Its so the Franchised network has first pick of the well specced cars which are hard to find elsewhere IMO . All the unsold cars are then put into the general sales.
The reports i have read about Closed auctions always say the cars achieved above book this obviously reflects on the condition, specification and saleability of the cars on offer. (not your usual auction tat).
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