Manheim Guo Pai Auction in Shanghai

ATLANTA - Manheim expanded its international presence into the world's most populous country when the Manheim Guo Pai auction in Shanghai held its first sale on Sept. 20. Nearly 200 dealers attended the sale, Manheim's first wholesale auction in China, with 50 percent of offered vehicles sold.

The state-of-the-art facility will celebrate its official grand opening next month with a ceremony and sale on Nov. 29. Manheim announced its entry into China earlier this year, when in May it announced a partnership with Shanghai Guo Pai, a large Chinese auction company that also deals in art, antiques and real estate.

"This first sale was a momentous occasion in Manheim's history and in the development of the remarketing industry in China," said Manheim president and CEO Dean Eisner. "China is obviously an enormous market, and we anticipate growing our business there significantly." In addition to physical auction sales, Manheim is also working to expand Simulcast capability for its Chinese auctions and will also offer ancillary services such as vehicle inspections, reconditioning, title transfers, and arbitration. Manheim plans to open additional facilities in China over the next six to 12 months.

In partnership with leadership from Shanghai Guo Pai, Manheim's China team is led by Mike Langhorne, chairman of Manheim China Holdings; Neville Green, director of Manheim China Holdings; and Cliff Anderson, vice president of Operations for Manheim Investment Management Consultancy/Shanghai.

The expansion into China illustrates Manheim's strategic effort of expanding its international business, Eisner said. Manheim currently operates outside of the United States in Canada, Australia, the United Kingdom, Germany, New Zealand, Spain, Thailand, France, and South Africa.

About Manheim Manheim is the world's leading provider of automotive remarketing services. Through its live auctions and array of technology products, Manheim impacts every stage of a used vehicle's life cycle, helping commercial sellers and automobile dealers realize the full value of their vehicles.

The company's services include reconditioning, certification, inspections, dealer financing, transport, title management and marshaling, among others. Manheim is also the leader in remarketing technology, using its online tools to connect buyers and sellers around the globe to the world's largest, most comprehensive wholesale marketplace. In 2005, Manheim handled nearly 10 million used vehicles - and sold more than 5 million - representing more than $50 billion in value.

Manheim's subsidiary companies provide value-added remarketing products, including paintless dent removal (Dent Wizard), Auto Body Repair, and salvage vehicle remarketing (Total Resource Auctions).