Mid-South Auction is back in family ownership. XLerate Group announced on Friday that the Rea family has repurchased XLerate’s Mid-South Auction in Pearl, Miss. Mid-South, originally founded in 1972, was formerly owned by the Rea family and operated under the name of Rea Brothers Mid-South Auction (RBMSA) until being acquired by American Auto Auction Group […] [Read More]

Though many expect used prices to drop as off-lease supply expands in the auctions lanes this year, used-car prices were still on the way up in December. The most recent Market Update from RVI Group shows that the company’s Used Vehicle Price Index jumped up by 0.7 percent in December when compared to November prices. […] [Read More]

Depreciation in the lanes is slowing down as tax season gets underway. Last week, car prices dropped by an average of 0.29 percent or $30 in the auction lanes, while trucks dropped by a larger 0.39 percent or $59. That’s according to the latest Black Book Market Insights report that highlighted the slowdown in price […] [Read More]

Barrett-Jackson announced a five-year renewal of its on-site collector car insurance program. Officials recapped Barrett-Jackson Endorsed Collector Car Insurance was introduced in 2009 in collaboration with the private client group division of American International Group Inc., (AIG), and is serviced by TDC Risk Management, an independent insurance agency. Barrett-Jackson highlighted that auto enthusiasts across the country […] [Read More]

Tom Adams, who has been president of Auction Insurance Agency and the chief executive of the AutoTec companies for over three decades, has moved into the role of AutoTec chairman. Taking on the CEO role at AutoTec is Chuck Redden, who has been with the company since 2002. Redden previously was the president of AutoTec’s […] [Read More]

Prices for pickup trucks held strong throughout most of 2015, touting retention rates much stronger than their smaller counterparts. But that trend is shifting. As 2016 gets underway, trucks are feeling the impact of heavier-than-normal depreciation trends, while cars are continuing on a downward path, as well, when it comes to prices in the lanes. […] [Read More]

ServNet Auction Group’s president Kevin Brown recently introduced the association’s board of directors. Planning for a busy year ahead, the recently appointed Brown acknowledged the contributions of ServNet members past and present who are transitioning into new roles within the organization. "It is an honor for me to serve as ServNet's president, and to work […] [Read More]

Though wholesale prices were on the way down as 2015 came to a close, there are a few factors that held rates in the lanes up last year, even as used supply began to grow. According to ADESA Analytical Services, wholesale prices in December averaged $9,763, down 1.2 percent compared to November. December’s average represented […] [Read More]

Cox Automotive announced Tuesday the appointment of Eric Jacobs as the company’s new senior vice president of corporate development. Most recently working for Dealertrack Technologies, Jacobs is now responsible for leading strategic business development for Cox, including mergers and acquisitions, while also continuing to create partnerships for the company’s client portfolio. Jacobs now reports directly […] [Read More]

A new auction simulcast solution has officially hit the market — and it is one that was developed by the pair of brothers who were brought in to design AuctionPipeline.com in 2005. Auction Frontier LLC, a company founded by Scott and Brad Suchomel that focuses on online auction solutions, announced Tuesday it has launched Velocicast. “After many years […] [Read More]