A new online wholesale auto auction platform puts the “seller’s reputation on the line.”

ACV Auctions co-founder and former executive Joe Neiman has launched DealerClub, a reputation-based exclusive marketplace where “each member puts their reputation on the line and is accountable for the vehicles they sell based on a rating system.”

Buyers using DealerClub to acquire cars can see how sellers rate in categories like sell-through rate, vehicle inspection accuracy and how consistently they provide titles.

Meantime, sellers can benefit with higher ratings that drive buyer confidence.

“The dealers behind the cars are the foundation of a great auction experience,” Neiman said in a news release. “DealerClub believes in those dealers. It’s about finding better inventory. Buyers and sellers alike are looking for a no-surprises experience.

“With the seller’s reputation on the line, buyers can be confident the vehicle they bid on is the vehicle they get,” Neiman said. “Meanwhile, trustworthy sellers who have earned high ratings enjoy more sales at higher rates, as well as the unique ability to actually be paid to sell on DealerClub’s platform, instead of paying a sell fee like they are accustomed to with other auction providers.”

Sellers are scored by DealerClub’s proprietary ratings system. They have flexibility in how and when they list a vehicle, while buyers have a real-time auction delivered directly to them with pictures, videos, personalized vehicle descriptions, seller history/ratings, user profile pages, chat functionality and options for titles, payment, floorplan and transportation solutions.

“Perhaps the biggest obstacle today in the wholesale marketplace is the fragmentation of where to go to buy and sell your inventory,” Neiman said. “Then there’s the challenge of counterintuitive condition reporting. Too much subjectivity is placed on the process and in the majority of cases, a vehicle’s description fits a script but isn’t reflective of its actual cash value. This is the core reason DealerClub was created.”

Neiman added: “Successfully selling in the wholesale ecosystem requires that buyers have confidence and no fear. In order to achieve that, the seller’s reputation must be part of the equation. Used cars are not commodities. Their value is the collective result of the seller, their intent to sell, how they represent the vehicle, and the vehicle’s condition. You simply cannot achieve the true value of a used car unless you are able to tell the whole story of that car. Therefore, the essence of wholesale is truly an art, and not just data and science. DealerClub is the blank canvas that dealers have been waiting for.”

Learn more at DealerClub.com.