Insurance Auto Auctions recently announced the expansion of both its Savannah and Tifton facilities in Georgia, two of its seven locations in the state. "The Savannah and Tifton expansions advance our pace of proactive operational growth in this important marketplace to better serve our loyal base of buyers and sellers," IAA chief executive officer and […] [Read More]

The owner of a South Dakota auction dubbed the “classic car graveyard” is currently selling his 40-plus-year-old collection of over 300 collector vehicles from the 1920s to 1990s. Kerry Droog, owner of K&K Auto and the son of an auctioneer, has been buying from auctions and picking out finds from local farms for most of […] [Read More]

The spring season in the wholesale vehicle market has passed and auction values have returned to seasonal depreciation patterns, says Black Book. Car segment values were down 0.36 percent last week and trucks fell 0.47 percent, according to the latest Black Book Market Insights report. This just a couple weeks after a stronger than expected […] [Read More]

Dent Wizard International has promoted its chief operating officer Mike Black to president, replacing Terry Koebbe who will retain his position as chief executive officer. In addition to his new role, Black will remain the company’s chief operating officer. “Mike has done a phenomenal job as COO over the past six years,” Koebbe said in […] [Read More]

Mobile wholesale marketplace ACV Auctions on Monday announced an expansion into eight new markets. Building on the half dozen ACV already occupied, the company now has a presence in: —Southern New Jersey —Roanoke, Va. —Hartford, Conn. —Boston —Cincinnati —Louisville, Ky. —Nashville, Tenn. —Charlotte, N.C. The push builds on ACV’s existing operations in other U.S. markets, […] [Read More]

Speed Digital announced it will partner with HemmingsPRO Auctions to host a battle more than 50 years in the making: Mustangs versus Camaros.  On May 26, the new partners will bring collectors and enthusiasts a Mustangs versus Camaros sale, the first of a series of monthly themed, timed online auctions. This event will help settle the […] [Read More]

Copart recently announced the launch of its upcoming fourth annual Copart Rebuild Challenge, a contest where U.S. car enthusiasts and automotive rebuilders competitively demonstrate how they’ve restored, customized or rebuilt a vehicle of their choice. "Every year, the contest draws more anticipation. Since last year's contest concluded, aspiring contestants have been asking when the Rebuild […] [Read More]

While determining that overall April wholesale prices moved higher both sequentially and year-over-year, KAR Auctions Services chief economist Tom Kontos drilled deeper into the latest data, focusing on what he called “two bellwether model classes.” And what he found tells a much different story about what happened in a particular pocket of the wholesale space last […] [Read More]

Late-model auction sales volume in the first third of the year is still up 7 percent, but it slowed last month. According to the Used-Car Light Truck Guidelines report from J.D. Power Valuation Services, there were 244,381 auction sales of late-model vehicles in April. That’s down 7 percent month-over-month and off 1 percent year-over-year. That […] [Read More]

Attributed in part to what analysts see as struggles to turn new models, J.D. Power Valuation Services’ seasonally adjusted used vehicle price index fell for the 10th straight month, leaving the reading at the lowest level since September 2010. J.D. Power Valuation Services (formerly NADA Used Car Guide) reported in the May issue of Used […] [Read More]