Another technological tool launched on Monday to help dealers acquire used inventory via vehicles being sold by private owners.

Topmarq unveiled its solution designed to be an online service with automated bidding and seller appointment setting. According to a news release, the platform is being released as a limited public beta.

Topmarq said it is currently focused on the Texas market, with plans for expansion to other major metros shortly

The company is led by chief executive officer and founder Quinn Osha, a former engineer at Axon. James Mark, a director of finance at LegalZoom and formerly with TrueCar, is an advisor with the company.

Topmarq explained it is positioned to help dealers solve inventory problems by going directly to local, private sellers. Topmarq’s proprietary tracking system can manage sellers through the pipeline until they set an appointment with a specific dealer, thereby removing the wasted dealer effort on lost leads.

“The U.S. vehicle market is in the midst of yet another massive shift as prices simmer from all-time highs through the pandemic,” Topmarq said in the news release. “Though pricing is showing signs of (receding), dealers across the country are still at a loss for how to increase their used inventory. Typical channels like wholesale auctions are seeing near-retail pricing that makes them a difficult choice for the average dealer.

“Rather than let a quality used vehicle slip into the wholesale channel, dealers can now get access to thousands of local sellers looking for a reasonable trade-in offer. The platform gives dealers access to submit custom offers directly to sellers based on detailed vehicle condition reports and VIN-based data,” the company went on to say.

To learn more details, go to www.Topmarq.com.