With a couple of pockets where dealer activity in the lanes seemed a little more upbeat, Black Book summarized that wholesale prices moved at a “humdrum pace” to close out July. This week’s Black Book Market Insights report noted car segments depreciated at nearly double the percentage of trucks this past week. Also, midsize car […] [Read More]

Columbus Fair Auto Auction's recent decision to establish a compliance department was an easy one, given the arguably dizzying pace at which regulatory issues across a variety of domains have accelerated since the 2010 signing of the Consumer Financial Protection Act and the bureau that grew out of it.  “We recognize our consignors, customers, partners, vendors and employees […] [Read More]

While it’s not exactly the case where crickets are chirping in the lanes, Black Book representatives from several parts of the country noticed soft activity at the auction. Along with recapping the year-over-year differences in full-size pickup prices, this week’s Black Book Market Insights report revealed what dealers are experiencing when making their trips to […] [Read More]

An interactive tool that can allow clerks to hone the skills they need to deliver a virtual version of the tradition auto auction experience to online dealers is the newest addition to the National Auto Auction Association’s Education and Training Library. The tool is designed to establish performance criteria to create consistency, reduce block errors and incite participation. One […] [Read More]

RVI Group analysts noticed more than half of the 19 vehicle segments they track for the Market Update posted a month-over-month increase in residual values during June. Leading this group with a rise of 1.9 percent were two vehicle segments that can get a lot of work during the summertime — full-size pickups and sports […] [Read More]

Manheim highlighted on Monday that dealers seeking tools to help them leverage the “mountain” of available data in the buy/sell process are reporting increased efficiency and improved in-lane sales with Manheim’s Seller Dashboard. The company noted its clients are rapidly adopting the online tool — released this spring — that can deliver real-time sales statistics and historical data […] [Read More]

Tom Stewart and Richard Curtis keep adding to the client roster of their new business development consulting firm, Auction Management Solutions (AMS). The newest partner to come aboard is Southeastern Auto Auction in Savannah, Ga. “Our auction is in its 20th year of operation,” Southeastern Auto Auction vice president of operations Bill McCready said. “Recently, […] [Read More]

Auction values for used 1- to 3-year-old vehicles declined 3.6 percent, or about $671, in the second quarter, according to analysts at Kelley Blue Book. The average used-car value at the end of the second quarter finished just 1.5 percent, or $272, lower than it did at this time last year. Year to date, the average […] [Read More]

Two ServNet members — Bel Air Auto Auction and DAA Seattle — each highlighted new developments happening at their operations this summer. BSC America president R. Charles Nichols announced that industry veteran Tommy Rogers has joined Bel Air Auto Auction as general manager of its Clayton Station Auction Center. As part of the BSC America management […] [Read More]

A record 9.7 million vehicles will likely be sold at auction this year, with 10 million sales expected next year, according to National Auto Auction Association chief economist Ira Silver. The previous record (9.6 million) was set in 2004. “What’s the major driver there is the commercial consignment,” Silver said during a webinar Thursday. “Because dealer consignment […] [Read More]