Over 200 preloved cars up for grabs

MARKING the first year of its live auto bidding in the country, HMR Auctions will be holding the biggest edition ever, with around 200 preloved vehicles, at KM 21 East Service Road, South Superhighway, Sucat, Muntinlupa City, on December 9.

“We put it a bit earlier to avoid the holiday rush,” said Samuel Powell, CEO of HMR Auctions.

According to him, this event is aimed at meeting the growing demand within the local market for an efficient, open and affordable method of bidding quality preowned motor vehicles.

“It really brings out the transparency in auction so that everybody can see what the market value for a vehicle is. We hope it’s a pleasurable and fun bidding experience for people who are going to attend,” he said.

Like the previous live auto auctions of HMR since December 2016, consignors can expect this as a fitting venue to expose their assets to a large pool of prequalified bidders.

Buyers that include car dealers and general public can indulge in having multiple options—from Ford Explorer, Suburban, Ford Everest, Toyota Vios, Mitsubishi Mirage and a lot more.

Adhering to “as in, where is” price-point industry standards, they can enjoy cheaper prices for their chosen vehicles than going to a dealership.

HMR has also made available to them its “Easy Financing” offering through its partners East West Bank, Security Bank and Global Dominion.

As a gesture of further appreciation to loyal followers, the anniversary-promo winner for the auction will be announced during the event and will be handed over with a cash price of P100,000.

Much to the delight of invited customers, business partners and even employees, raffle prizes and giveaways await them.

HMR Auto Auction provides full-service asset-management solutions for clients requiring liquidation of their obsolete vehicles.

Established over 23 years ago, it pioneered live auctions for general merchandise, consumer goods, as well as industrial plant and heavy equipment.

The company then branched out into auto auctions, particularly passenger vehicles, late last year. Since then, it has sold out over 1,600 automobiles.

“Most auctions held by banks or other entities here in the Philippines are done by sealed bidding or a sealed, silent-type auction. But we incorporate the American style, which is a live auction,” Powell shared.

While this is relatively new here, he sees its growth potential given the country’s improving economy that boils down to strong purchasing power of Filipinos today.

“That’s really driving a lot of people having their requirement for vehicles. Buying a preloved vehicle is a good cost-effective way to be out of the car ownership market,” the CEO explained.

Live auto auctions, likewise, is seen promising by the first nationwide facility for live public auction of passenger vehicles as more and more buyers will find it economical to own preused cars.

“Especially in the coming excise tax for [automobiles] next year, so most of the vehicles will be more expensive compared to the secondhand cars,” added Jaye Carreon, branch manager of HMR Auctions.

 

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Roderick L. Abad graduated from Pamantasan ng Lungsod ng Maynila, with a degree course in Bachelor of Arts in Mass Communication. He has 12 years of journalism experience, starting as a Special Features Writer in a major daily newspaper. In 2006, he moved to the BusinessMirror in the same capacity and, eventually, became a beat reporter. To his credit, he was a finalist in the 2011 Holcim Journalism Awards for Sustainable Construction and the 2013 Lasallian Scholarum Awards. He remains affiliated with the BusinessMirror as a contributor.