Manheim’s mobile auction program now produces a higher sales rate than the company’s other channels, such as in-lane, mobile and online. The auto auction company says its clients are averaging 70 percent sales rates through mobile auctions. “Mobile auctions extend the reach and bring the excitement of the live, wholesale auction experience anywhere there is […] [Read More]

Typically, compact luxury crossovers/SUVs have retained their values well. In fact, a graph of Black Book data going back to January 2013 shows that 3-year-old vehicles in this segment have maintained retention above 54 percent in recent years, sometimes as high as roughly 63 percent. That is, until this autumn. According to Black Book’s latest […] [Read More]

This year, the Manheim Central Florida team launched the Digital Block sale, a bidding experience that uses enhanced imaging and digital tools during live auctions. “A few benefits of the digital block format are faster sales, enhanced imaging, and more importantly a feel of exclusivity,” Butch Herdegen, general manager of Manheim Central Florida, said in […] [Read More]

Auction Management Solutions closed out the month by announcing that the firm has partnered with All Valley Dealer Auto Auction in North Hollywood, Calif., for business development consulting. Tom Stewart and Richard Curtis of AMS now have relationships with 13 total auction locations; a collection that also includes: — Columbus Fair Auto Auction — Greater […] [Read More]

Dashing Through the Lanes, Manheim’s holiday campaign designed to increase dealer clients’ sales at the end of the year returned on Monday. Through Dec. 23, dealers nationwide who attend Manheim’s sales in-lane or on Simulcast are registered to win daily prize package giveaways. “As this campaign has attracted strong in-lane attendance and positive feedback in […] [Read More]

Jim Hallett, KAR Auction Services chairman and chief executive officer gave a keynote address during the Fleet Europe Remarketing Forum in Barcelona on Nov. 15.  “The European auto remarketing industry is rapidly evolving. Economic trends, shifting demographics and rising customer expectations are accelerating change – and opportunity for new entrants and disruptors,” said Hallett in comments […] [Read More]

As the wholesale industry moved closer to Thanksgiving, both prices — especially for sports cars — and bidding in the lanes noticeably softened as recapped in the latest Black Book Market Insights report. The report noted an increase in depreciation for nearly all segments across the board as the industry gets deeper into the fourth […] [Read More]

Cox Automotive brand NextGear Capital presented its fourth annual Auction Partners Awards during the National Remarketing Conference/National Auto Auction Association Convention at the Red Rock Casino and Resort in Las Vegas. The awards spotlight independently owned auction leaders in the industry and recognize their years of dedicated service to growing and supporting the overall industry […] [Read More]

Seven auto auctions from across the U.S. received awards during the National Remarketing Conference/National Auto Auction Association Convention from Chase Auto Finance as the consignor announced its 2015-2016 Chase Cup for Auction Excellence winners. Officials recapped that the 18th annual Chase Cup award recognizes auctions across the country for their exceptional performance in retention, operational […] [Read More]

Earlier this month, DAA Northwest celebrated 24 years and hosted its annual Anniversary Sale Fundraiser to help support four local Spokane charities. The auction matched all funds, bringing the two-day event’s total to $123,000. “Our thanks go out to all of our customers who contributed to the evening,” said auction president Bob McConkey. “These organizations […] [Read More]