"The word private is key," said a TruckCenter.com spokeswoman. All bidders were exclusively from the OEM’s key dealer network. The general public was not involved, she said.
According to TruckCenter.com, the private auction service streamlined the transaction process. It gave the dealers immediate access to inventory by removing traditional geographic restrictions. The manufacturer had control over the opening bid price, the increments for bidding and the reserve price throughout the auction.
TruckCenter.com is a marketplace for the sale of trucks and related services, including financing, insurance, certification, warranty and third-party inspections. Entrade Inc., an e-commerce company, owns 80 percent of TruckCenter.com.