Cincinnati Independent Auction Moves into New Facility, Broadens Repo Sales
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CINCINNATI –
A Cincinnati independent auction recently moved into expanded and updated facilities and revealed plans to ramp up its bimonthly repo sale.
OKI Auto Auction relocated to a 10-acre lot, once part of the former Jim Beam Distillery off Interstate 75 at 120 Citycentre Drive. OKI leased temporary space for more than a year at the Hamilton County Fairgrounds across the street, according to a report posted by Cincinnati.com.
The story indicated OKI spent more than $2 million on the site, which includes a three-lane auction building and paved parking for vehicles. Northside Bank & Trust and the U.S. Small Business Administration provided financing.
Started by company president Lee Schoenling in 2000, OKI is now jointly owned with retired dealer Tom Moser. It has grown from seven to 70 full- and part-time workers.
Along with bi-monthly dealer consignment, the new facility is helping OKI boost its repossessed unit offering, too.
Repo sales now will be held on the first and third Wednesdays of each month at 10 a.m., before dealer-only sales.
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The Cincinnati.com report indicated OKI projects to have 15,000 units go down its lanes this year.
The original online story can be found here.
