ServNet revealed some news from its member auctions Tuesday, with one Iowa facility set to celebrate its 50th anniversary next week. Plaza Auto Auction of Iowa is gearing up for its 50th anniversary sale, which is scheduled for Aug. 28. The auction shared that the celebration will include drawings for $50,000 in prizes, and the […] [Read More]

Dealers at one Michigan auction can “Win the Race” in a promotion running through Sept. 18. The promotion at Flint Auto Auction, held in partnership with consignor US Bank, combines transportation assistance for vehicles bought at US Bank’s bi-weekly sales events at Flint Auto Auction with prize drawings set for September, when three dealers will […] [Read More]

As multi-platform selling continues to gain steam in the wholesale industry, Auction Edge announced this week it is joining the ranks, offering what it says provides a convenient way to list and manage inventory on multiple online platforms. The company revealed it has integrated Liquid Motors capabilities into the Auction Edge platform. Auction Edge will […] [Read More]

It seems as gas prices are returning to more normal levels as summer wraps up, consumers may be losing interest in fuel-efficient vehicles. Black Book’s Ricky Beggs says falling gas prices have sped up fuel-efficient vehicles’ wholesale depreciation in the recent weeks. [Read More]

ADESA’s Tom Kontos explained why he noticed wholesale prices still dipped a bit last month but not to the extent they did in June. According to ADESA Analytical Services’ monthly analysis of wholesale prices by vehicle model class, wholesale used-vehicle prices in July averaged $9,435, which was down 1.3 percent compared to June and 1.3 […] [Read More]

A quarter-century is a long time, and ServNet leaders believe they’ve made the most of those years. Now, as two longtime board members prepare to step down, they reflect on the group’s growth. “In observing our 25th anniversary year, we have with great pride recognized ServNet’s tremendous growth since its founding in 1988,” said president […] [Read More]

At its fourth annual Benefit Auction and Dinner earlier this month in San Clemente, Calif., the Active Auctioneers Foundation doled out awards honoring several leaders in the industry, including an award for Auction House of the Year. The event also raised a record amount of money, with proceeds going to members of the auction community […] [Read More]

In an update posted to the National Auto Auction Association’s website last week, NAAA chief executive officer Frank Hackett said the date on which the changes to the Arbitration and Structural Damage policies become effective has been pushed back. They will now go into effect Oct. 13, instead of Sept. 1. “Since this is the […] [Read More]

After months of declines, used-car prices showed a small increase in July, with the larger sedan segments leading the pack. Wholesale values saw an increase of 1.2 percent this past month when compared to June, according to the latest RVI Market Update. The year-over-year climb was even larger, showing prices up by 3.9 percent. And […] [Read More]

Does the date Aug. 19 mean anything to you? For auction owners, staff, and more, this date marks the launch of the National Auto Auction Week. National Auto Auction Association president Paul Lips has designated next week to celebrate the auction industry’s rich history and increase the public’s awareness of the industry and its contributions […] [Read More]