Perhaps the surprising summertime surge in wholesale prices might come to an end before Labor Day arrives. Following a rise in July on par with other industry watchers have seen, J.D. Power Valuation Services is projecting that wholesale prices of vehicles up to 8 years in age are expected to soften by about 0.5 percent […] [Read More]

Through July, auction volume of late-model vehicles is up 4.2 percent from where it was after seven months of 2017. That’s according to the latest Guidelines report from J.D. Power Valuation Services, which defines late-model, in this case, to be vehicles up to 5 years in age. And the increase in that slice of auction […] [Read More]

Copart has opened a new South Carolina location on almost 100 acres of land in the city of Spartanburg. The company announced Thursday that its new Spartanburg auction is located at 1921 Nazareth Church Road. This news comes just a few months after the company made an announcement in June that it has opened a new North […] [Read More]

ADESA has named a new auction general manager for its ADESA Phoenix location, who brings 25 years of auction experience to his new role. The company announced Thursday that it has chosen Rod Davis from ADESA Brasher’s to head up its Phoenix-area auction located in Chandler, Ariz. Davis, who most recently served as ADESA Brasher’s assistant GM, has been an […] [Read More]

ACV Auctions has brought aboard a new company chief financial officer and chief corporate development officer. The company announced Wednesday that it has named Matthew George to serve as CFO and Craig Anderson to serve as chief corporate development officer. “We have achieved a tremendous amount in a few years,”ACV Auctions chief executive officer George Chamoun […] [Read More]

Basic mathematics says that five times any number except zero can result in a significant figure. While five times one equals five, five times 500 equals 2,500. And five times … OK, let’s not have to retrieve the calculator on your smartphone. However, Black Book executive vice president of operations Anil Goyal broke out the […] [Read More]

Retail remarketing has been adopted by many over the years, but has only recently established itself as a bona fide channel in the commercial remarketing space. Progressive remarketers are increasingly weaving retail into their broader remarketing strategy as they seek increased proceeds, speed, and efficiency for their own vehicles, client vehicles, repossessions and lease returns. While […] [Read More]

The National Auto Auction Association has seen four states that are reclassifying vehicles that previously have been given a clean title as a salvage unit. As of Aug. 8, NAAA said the locations now following this protocol include Nevada, Ohio, Virginia and Wyoming. The association explained that upon transfer of ownership, some jurisdictions have begun […] [Read More]

A ServNet Auction Group member located in the heart of the Midwest is making sure its standing within the wholesale community remains strong as leadership changes unfold. According to a news release delivered to Auto Remarketing on Friday, Missouri Auto Auction owners Gregg and Dagmar Boswell have announced a change in the management and ownership […] [Read More]

For a third consecutive year, ADESA Winnipeg has been named the National Auto Auction Association’s Eastern Chapter Auto Auction of the Year, in recognition of its staff's notable public service efforts. NAAA announced Thursday that the auction was chosen for successfully organizing 25,000 people to raise $5.2 million in donations and its involvement in over 55 […] [Read More]