The IAS Marketplace is an online platform where users can buy and sell vehicles. It consists of individual Marketplaces where users can bid or place offers on and purchase vehicles. Individual Marketplaces can be organized hierarchically into Parent Marketplaces and Child Marketplaces, where each Child Marketplace is associated with its own set of Dealerships and Events, while each Parent Marketplace is associated with the Dealerships and Events of all its children. This allows IAS Marketplace customers to flexibly structure their respective Marketplace(s) in the way that makes the most sense for their clients, affiliates, and members.
The IAS Marketplace contains a standard set of features that enable this basic functionality. Through its standard features, the IAS Marketplace allows for real-time search across the Parent Marketplace and all Child Marketplaces, as well as live simulcast integration. It also provides an automated bidding and order-fulfillment module (“HyperBid”) and an activity tracker that allows users to track bid activity and purchases, as well as receive notifications about events such as outbids, notices, purchases, and more. Also, part of the IAS Marketplace’s standard features are tools for sellers and administrators, such as inventory management, reports, account management, an Inventory Match and Notification System, and auction management systems.
In addition to its standard features, the IAS Marketplace also includes several “advanced” features providing special functionality that improves the buying and selling experience for users. Though the set of advanced features available to IAS Marketplace customers is constantly expanding, current examples include PrivateLot (a direct buyer–seller negotiating module) and HyperLot (a module allowing hybrid auctions with live bidding and penny-auction-like timers that are reset with each new bid), as well as the ability for customers to create “special events” outside of their ordinary auction sales. These advanced features can be used to expand the reach of a seller’s listing, to efficiently identify and solicit buyers for a vehicle, and to otherwise make the listing-and-sales process more useful and more efficient for users.