The summer market is in full force in the lanes as we head toward fall, says Black Book’s Ricky Beggs.   For example, last week, car prices fell by an average of $81 at auction, almost twice the $42 decline during the same period of 2013. According to Black Book data, only once over the […] [Read More]

The roar of engines and the chants of auctioneers are mixed with the sounds of hammer blows and the rumble of paving equipment as ServNet auctions around the country work to finish expansion projects. Six ServNet members — including Missouri Auto Auction, Carolina Auto Auction, Dealers Auto Auction of the Southwest, Sparkling City Auto Auction […] [Read More]

Black Book has expanded its executive team with the hire of a vice president of analytics and strategic relationships. The company has chosen Anil Goyal to fill the VP spot. Goyal comes to Black Book with a background in strategy, primarily in banking positions, the company said. For example, Goyal has held senior risk positions […] [Read More]

Auction price drops are expected to remain consistent with last week’s movement, with wholesale prices once again predicted to drop by an average of 0.5 percent or $75, according to NADA’s AuctionNet data. But there's one exception. Interestingly enough, even though overall price declines are predicted to be moderate this week, large pickups are expected […] [Read More]

ServNet auctions in Minnesota and South Carolina have enjoyed an eventful summer so far, with one announcing a new era taking hold and another having another successful annual sale. First up, Bob and Rob Thompson and the crew at Mid-State Auto Auction celebrated the auction’s 31st anniversary in July, taking the time to review the […] [Read More]

General Motors announced this week it is bringing back closed sales to two Manheim locations. GM closed sales, open only to GM dealerships, will now be offered at Manheim Arena Illinois and Manheim Pennsylvania. “We value our partnership with Manheim,” said Dan Kennedy, national remarketing manager at General Motors. “We are confident that these closed […] [Read More]

Dealers Auto Auction of Oklahoma City has a new general manager. Named to that role is Jon Reininger, who has been assistant general manager since March 2007. He began working at the auction in 2000. “We know our customers and employees alike applaud Jon’s promotion to general manager,” said auction owner Gary Smith.  “We have […] [Read More]

Many auctions have been ramping up their reconditioning facilities lately to better meet customer’s needs, and Manheim is no exception. In fact, Mike McKinney, regional vice president operations for Manheim, told Auto Remarketing the company has invested more than $8 million in capital investments in reconditioning facilities for the company’s operating locations since 2012. Rock […] [Read More]

Gas prices are on the way down again, and so are auction prices. Black Book’s Ricky Beggs pointed this trend out during his latest “Beggs on the Used Car Market” video report, which explained that the market is seeing traditional seasonal movement with price declines picking up during the first three weeks of July. And […] [Read More]

The Greater Rockford Auto Auction is celebrating its 40-year business anniversary this month with prizes and promotions. The auction’s rewards include different giveaways such as gas grills, Yamaha scooters and Polaris all-terrain vehicles. Chad Anderson, the auction manager, is looking forward to the GRAA’s 40th anniversary party sale, which will be held on July 23. […] [Read More]