Add auctioneers to the list of professionals from throughout the automotive industry having to put in more effort to overcome challenges created by the coronavirus pandemic. In the latest installment of COVID-19 Market Insights released by Black Book on Tuesday, analysts described what’s happening in the lanes nowadays as dealers continue to keep a close […] [Read More]

KAR Global shared its July wholesale price data on Thursday, reiterating how the coronavirus pandemic is making its metrics unusual compared to what dealers and consignors typically see during the summertime. According to KAR Global Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, wholesale prices in July averaged $13,375, representing […] [Read More]

Skipco Auto Auction recently conducted its own version of when a movie director announces, “Lights! Camera! Action!” SAA served as a service provider for federal authorities who looked to recovery money stemming from famous movie vehicles included in a $43 million Medicaid fraud case in Youngstown, Ohio. SAA sold nearly $500,000 in special vehicles that […] [Read More]

With so much happening online nowadays, IAA reinforced its security expertise with an executive who has an extensive retail background. On Tuesday, IAA appointed Andrew Albrecht as vice president and chief information security officer. The company said Albrecht will report directly to Maju Abraham, senior vice president and chief information officer. Most recently, Albrecht served […] [Read More]

In light of Hurricane Laura approaching the Gulf Coast as a Category 4 storm, the leadership of the National Auto Auction Association is taking proactive measures reminding members of resources available to them in times of crises — including an auction employee relief fund. A letter from NAAA president Laura Taylor, sent Wednesday to several […] [Read More]

The McConkey Auction Group has hired Joe Lemonds of Carolina Auto Auction to be the new general manager of the DAA Las Vegas auction it purchased earlier this month, while also announcing a chief operating officer for the company, among other moves. Starting with the new auction GM, Lemonds has been Carolina’s assistant general manager […] [Read More]

Manheim added six more auctions Monday to its pilot return of in-lane bidding, meaning there are now 43 auctions participating in this pilot, which has been running roughly two months. Dealers at the pilot locations are able to bid in-lane through Digital Block sales, which include in-lane bidding on site at Manheim auctions with a […] [Read More]

Earlier this summer, IAA bolstered the technology offerings for its operations in the United Kingdom with a revamped buyer portal. This week, the company boosted the transportation component of its business. IAA announced that its UK-based business unit has implemented INFORM Transportation Management System (TMS). The company explained this marks the next stage of its […] [Read More]

Sales of vehicles up to 8 years old were steady at auctions the week ending Aug. 16 and continued to be softer than pre-virus forecasts, according to a Used Market Update from J.D. Power. But certain segments, particularly on the mainstream side of the market, are seeing auction sales climb. Overall, there were 95,000 auction […] [Read More]

Wholesale vehicle prices are on pace for a third straight month of record highs, according to a mid-month update of the Manheim Used Vehicle Value Index. After the first 15 days of August, the index was at 163.4, which is up 15.6% from mid-August 2019. The Manheim index finished July at a record high of […] [Read More]