TradeRev Closing Removed – Auctions will have Visible Timers
Effective March 25, 2020, the closing category in the TradeRev car dealer buying app will be removed and replaced with visible timers same as regular auction sites like Ebay.
Below is an email sent to all Traderev dealers on March 24th announcing the change.
Traderev email on 03/24/2020
“
The final farewell to the Closing period is here. Tomorrow, we’ll say goodbye to Closing and say hello to visible auction timers and a new web search bar. Check out more below.
No More Closing
A win’s a win. Starting tomorrow, there’ll no longer be a second round of bidding once the 45-minute auction is over.
Auction Countdowns
With a visible auction timer, you can see how much time is on every single trade, so you never miss out on a bid. We’ll also add an extra minute to the auction each time a bid is placed in the last 3 minutes. That way no one can swoop in on your trade with a last-minute bid.
Web Search
Find the trades that matter to you most. Simply enter vehicle details like the year, model or make and the exact matches will appear followed by other similar trades in a separate section.
To enable this update, you’ll automatically be logged out tomorrow. Simply sign back in and enjoy the new features.
How is the auction timer displayed?
We’ve added a visible auction timer to all auctions. The countdown is visible from both the List View and the Vehicle Details Page (VDP). This timer shows all dealers exactly how much time is remaining.
The timer is formatted depending on how much time is remaining:
- < 1 minute: Displays “Under a minute left”
- 1 – 5 minutes: Displays the remaining time in minutes and seconds
- 5 – 45 minutes: Displays the remaining time in minutes
- > 45 minutes: If an auction ends outside business hours, the timer displays the remaining auction time plus the time before the auction resumes (see below for details)
“
TradeRev is owned by KAR Global and located at 36 South Pennsylvania Street, 7th Floor Indianapolis, IN 46204.
